What is the Lean perspective on inventory?
What will be an ideal response?
Answer: The lean philosophy places a strong emphasis on reducing raw materials, work in process, and finished goods inventory throughout the system. This is not only because inventory is seen as a form of waste in and of itself, but also because inventory can cover up wasteful business practices. Lowering inventory levels forces firms to address these poor practices.
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When the sales order department acknowledges a customer order, it is an example of a:
a. vertical information flow b. horizontal information flow c. both vertical and horizontal information flow d. neither vertical nor horizontal information flow
A custom molder produces 6-ounce juice glasses and 10-ounce cocktail glasses. The per unit contribution for the juice glasses (x1) is equal to 60 - 5x1, and the per unit contribution for the cocktail glasses (x2) is 80 - 4x2
An expression for the total contribution is: A) 20 - 4x2 - 5x1. B) 60x1 - 5x12 + 80x2 - 4x22. C) 80x1 - 5x12 + 60x2 - 4x22. D) 20 - (4x2)(5x1).
Fifty candidates appear for the first round of interview at a firm. The manager of the firm wants to verify the status of these interviewees in the recruitment process. The manager intends to know how many interviewees have cleared the first round of interview and the second round of interview. To aid the manager in the recruitment process, the firm should use:
A. multifactor authentication. B. a self-service portal. C. an applicant-tracking system. D. the e-Verify tool.
Examples of common investment mistakes covered in the text include all of the following except
A) following the advice of a stockbroker. B) making decisions based on unrealistic goals. C) borrowing to invest. D) taking risks to recover losses from previous investments.