One of the huge benefits of just-in-time production is that the need for "time" is eliminated.
<h3>What is just-in-time production?</h3>
With just-in-time (JIT) manufacturing, products are produced as needed, rather than in excess or ahead of schedule.
Some characteristics of just-in-time are-
- With just-in-time (JIT) manufacturing, products are produced as needed, rather than just-in-time (JIT) inventory system is a management strategy that aligns raw-material orders from suppliers directly with production schedules in excess or ahead of schedule.
- Because Toyota, a vehicle manufacturer, introduced just-in-time manufacturing in the 1970s, the practise is often referred to as the Toyota Production System (TPS).
- To prevent work-in-process overcapacity, JIT is frequently used in conjunction with the scheduling technique known as kanban.
- The JIT production method depends on consistent output, excellent craftsmanship, no equipment failures, and trustworthy suppliers for its success.
- The JIT system is also known as short-cycle manufacturing (as used by Motorola) and continuous-flow manufacturing (as used by IBM).
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The statement in the question is True.
<u>Explanation:</u>
In statistics, the residual sum of squares (RSS), otherwise called the sum of squared residuals (SSR) or the total of squared estimate of errors (SSE), is the aggregate of the squares of residuals (deviations anticipated from real observational estimations of information). It is a proportion of the error between the information and an estimation model.
A little RSS demonstrates a tight attack of the model to the information. It is utilized as an optimality standard in parameter determination and model choice.
Answer:
Correct option is C
Explanation:
Ford should have warned consumers of the explosions, recalled all of the defective automobiles, and corrected the problem.
Answer:
Option C
Explanation:
Substitution bias identifies a potential distortion in economic indicator statistics as it does not include data on customer purchases that moves from comparatively more costly goods to inexpensive ones as rates shift. Substitution prejudice arises as the quality of products varies compared to each other.
The substitution prejudice relates to the Consumer Price Index flaw that exaggerates inflation as it does not take into consideration the substitution effect as buyers want to swap one good for another when their demand is higher than the commodity they usually purchase.
Thus, from the above we can conclude that the correct option is C.
Answer:
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