A process that represents a trade-off between mass assembly operations and job shops in terms of flexibility and production volumes is known as ________.
Fill in the blank(s) with the appropriate word(s).
Answer: flexible manufacturing system (FMS)
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What will be an ideal response?
A written order by a buyer for merchandise or other property specified in a purchase requisition is known as a
a. purchase invoice; b. purchase order; c. purchase requisition; d. receiving report; e. sales ticket.
The ________ is the ratio of the standard deviation to the mean, expressed as a percentage, and it is a unitless measure of relative variability
A) standard deviation B) coefficient of variation C) variance D) interquartile range
An advantage of the weighted average inventory method is that it tends to smooth out erratic changes in costs.
Answer the following statement true (T) or false (F)