Something that has value and is expected to benefit the future operation of the business is known as:
A. RevenuesWhat reduces the planning and control effort needed, the number of items required, and the inventory that has to be carried?
A. StandardizationWhat is based on the participation of all members of an organization in improving processes, products, services, and the culture they work in is called:
A. Continuous Process ManagementWhen a small number of items often dominate the results achieved in any situation, this is called:
A. Standard lawQuality and delivery factor of products tend to have increased importance during:
A. Maturity phaseWhat is responsible for establishing the flow of materials into the firm, following up with the supplier, and expediting delivery?
A. SchedulingThe flow of work centers must be planned to meet delivery dates which means production activity control must do the following:
A. Ensure that the required materials, tooling, personnel and information are available to manufacture the components when needed.The information needed to develop an MPS is provided by:
A. The production planChecking is a two step process. First the order must be scheduled to see when the capacity is needed, and second, the load on work centers must be checked in that period.
A. Capacity availabilityWith reference to the above example; if the cost of carrying inventory is $5 per case based on ending inventory, what is the total cost of carrying inventory?
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