What is schedule stability and why is it important in a lean system?
What will be an ideal response?
Schedule stability refers to the realization of production planning. Once the plan and necessary production levels are established, they are held as constant as possible and as true to the plan as practical. Such stability is necessary so that all resources can be put to their best use, i.e., production lines can be balanced and employees can be assigned to tasks that keep them working in appropriate roles.
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Which of the following statements regarding insurance company organization is CORRECT?
A) Stock companies are owned by the policyholders. B) A stock company pays dividends to its policyholders. C) A policyholder in a mutual company may receive a dividend. D) Mutual companies do not declare dividends."
The ________ is the time it takes to acquire and sell the inventory
A) collection period B) turnover C) inventory period D) operating period