Describe how the visual workplace can increase information flow, improve efficiency, and eliminate non-value-adding activities. Support your argument with a few examples
What will be an ideal response?
Visuals reduce the time spent sharing information, especially in signaling hazards, low-stock conditions, poor quality, etc. Time spent reading instructions or taking measurements are non-value-adding if a simple visual can replace them. Examples include graphs of stock conditions, painted warnings, markers, kanbans, andons, and others.
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If selling expenses equal 40 percent of a retailer's annual sales, its selling efficiency would be _____
a. 20 percent b. 40 percent c. 60 percent d. 80 percent
Precedent is an example set by the decision of an earlier court for similar cases or similar legal questions which arise in later cases
a. True b. False
_____ is the authoritygranted by a domestic firm to an overseas firm for the rights to produce and market its product or to use its trademark/patent rights in a defined geographical area.
A. Foreign franchising B. Foreign licensing C. Outsourcing D. Offshoring
If a contract condition is not satisfied, the obligations of the parties are suspended
Indicate whether the statement is true or false