Lean Systems Maintain Inventory in Small Lot Sizes Because Small

question 9

Multiple Choice

Lean systems maintain inventory in small lot sizes because small lot sizes:

• A) increase pipeline inventory, allowing the organization to buffer against demand uncertainties.
• B) increase the quality level of the product.
• C) enable schedules to use machine capacities more efficiently.
• D) increase manufacturing lead time because of the increase in waiting time.

Evaluate comparative advantage and how it determines production specialization between individuals or entities.

Understand the relationship between production possibilities and Pareto optimality in resource allocation.

Interpret how marginal rates of substitution influence consumer choices and the allocation of resources.

Understand the importance of adaptability in team roles and orientations.

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Definitions:

Structured Interviews

An interviewing technique where all candidates are asked the same predetermined questions in the same order to ensure consistency in the evaluation process.

Panel Interview

An interview using several interviewers with one applicant.

Interviewing Mistake

Errors made during the job interview process, which could negatively affect the assessment of a candidate or the candidate's perception of the employer.

Personal Biases

Individual prejudices or preconceived notions that influence one’s judgment or decision-making process.