Asked by Duncan Jackman on May 08, 2024
Verified
Reducing wait time is not linked to reducing inventory.
Reducing Wait Time
The process of minimizing the amount of time customers or clients have to wait for service or product delivery.
Reducing Inventory
The process of decreasing the amount of goods or materials a company holds, often aimed at improving efficiency and reducing cost.
- Familiarize with the position of inventory in the context of lean manufacturing.
- Appreciate the relevance of lead times in lean manufacturing and strategies for their mitigation.
Verified Answer
JV
jolly varkeyMay 15, 2024
Final Answer :
False
Explanation :
Reducing wait time often leads to reduced inventory because shorter wait times can improve the flow of materials and products through the supply chain, thereby reducing the need for large inventories.
Learning Objectives
- Familiarize with the position of inventory in the context of lean manufacturing.
- Appreciate the relevance of lead times in lean manufacturing and strategies for their mitigation.