Value Stream Mapping (VSM)is a Tool for

question 23

Multiple Choice

Value stream mapping (VSM) is a tool for

• A)reducing setup times.
• B)improving quality at the source.
• C)analyzing process flow.
• D)designing manufacturing cells.

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Definitions:

Nonlabor Income

Income received that does not come from working, such as interest from savings, dividends from investments, or government benefits.

Leisure

Free time spent away from work and compulsory activities, often devoted to relaxation, hobbies, and personal enjoyment.

Wage Rate

The amount of compensation an employee receives in exchange for performing a specific job, typically expressed per hour or year.

Endowment

The value that a property generates for its owner; in economics, it often refers to the initial allocation of goods and resources available to individuals.