Understanding Business
Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Lean Production
The word lean refers to the “slim “that is used in manufacturing for the systematic designing that focuses on minimizing the waste in the manufacturing or production with the constant productivity of the operation. Lean manufacturing was rooted from Toyo…
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Classify the following activities as primarily planning, Implementation, or control: a. Doing a cost-benefit analysis of adding a new branch versus installing three new automated teller machines (ATMS). b. Estimating the cost of raw materials to be purchased during the next quarter. c. Analyzing market demand to assist in the preparation of the sales budget. d. Compiling the labour report for the past week. e. Outlining the changes to a process based on a process reengineering team report. f. Documenting the savings from reductions in raw materials inventory resulting from the adoption of a JIT inventory system.
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Transcribed Image Text:Classify the following activities as primarily planning, Implementation, or control: a. Doing a cost-benefit analysis of adding a new branch versus installing three new automated teller machines (ATMS). b. Estimating the cost of raw materials to be purchased during the next quarter. c. Analyzing market demand to assist in the preparation of the sales budget. d. Compiling the labour report for the past week. e. Outlining the changes to a process based on a process reengineering team report. f. Documenting the savings from reductions in raw materials inventory resulting from the adoption of a JIT inventory system.
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