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What are the assumptions about mass production compared to Toyota Production system?
Sealed Bid Auctions
A type of auction where all bidders submit their bids without knowledge of the bids offered by other participants, often used in government contracts and private sales.
Bid-Rigging
Bid-rigging is an illegal agreement between parties to manipulate the outcome of a bidding process to their advantage, often at the expense of others.
Knockout Auctions
Auctions where bidders are eliminated progressively as the bid value increases until only the highest bidder remains.
Amnesty
A governmental act of pardoning a group or class of individuals from legal penalties, typically for political offenses, as part of a reconciliation process.
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