Which of the Following Are Among the MOST Important Elements

question 15

Multiple Choice

Which of the following are among the MOST important elements of the lean production philosophy?

• A)Quality inspections and a standardized product line
• B)Fully automated assembly lines and a large supplier base
• C)Large inventories and quality inspections
• D)Waste reduction and continuous improvement

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Definitions:

Generates Revenues

Generates revenues refers to the activities or strategies a company employs to earn income from its business operations.

Profitability

A measure of the efficiency and financial success of a company, usually determined by the ratio of its profits to its revenues.

Controllable Costs

Expenses that can be managed or influenced by decisions made by a company's management.

Noncontrollable Costs

Costs that cannot be influenced or altered by the actions of a manager or business unit, often determined by external factors.