Chapter 3: Q. 2OQ (page 368)
What term refers to the optimization of value-adding activities and elimination of non-value-adding activities that are part of a value stream?
Lean refers to the optimization of value-adding activities and elimination of non-value-adding activities that are part of a value stream.
Over 30 million students worldwide already upgrade their learning with Vaia!
All the tools & learning materials you need for study success - in one app.
Get started for free
Describe how outsourcing works. Why would a firm want to outsource?
With so much productive capacity and room for expansion in the United States, why would a company based in the United States choose to purchase items from a foreign firm? Discuss the pros and cons.
The owner of a large machine shop has just finished its financial analysis from the prior fiscal year. Following is an excerpt from the final report:
a. Compute the inventory turnover ratio (ITR).
b. Compute the weeks of supply (WS).
Means only producing what is needed when needed and no more.
What is the term used for the act of moving some of a company’s internal activities and decision-making processes to outside providers?
What do you think about this solution?
We value your feedback to improve our textbook solutions.
