In each of the following, name the term defined or answer the question. Answers are listed at the bottom.This means producing only what is needed when needed and no more. A period of time during which the production schedule cannot be changed.Producing a mix of products that matches demand as closely as possible.A production control system that uses a signaling device to regulate the flow of material. If the lead time for an item is exactly five days, the demand is a constant four units per day, and the shipment container contains two units, how many kanban card sets would be needed? (Assume 0 percent safety stock.)A firm wants to justify smaller lot sizes economically. Management knows that it cannot change the cost to carry one unit in inventory because this is largely based on the value of the item. To justify asmaller lot size, what must it do?

Note: I have answered for questions 1 to 3. Kindly post the remaining the questions separately. 1)…

Answered: In each of the following, name the term…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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In each of the following, name the term defined or answer the question. Answers are listed at the bottom.

This means producing only what is needed when needed and no more.
A period of time during which the production schedule cannot be changed.
Producing a mix of products that matches demand as closely as possible.
A production control system that uses a signaling device to regulate the flow of material.
If the lead time for an item is exactly five days, the demand is a constant four units per day, and the shipment container contains two units, how many kanban card sets would be needed? (Assume 0 percent safety stock.)
A firm wants to justify smaller lot sizes economically. Management knows that it cannot change the cost to carry one unit in inventory because this is largely based on the value of the item. To justify a
smaller lot size, what must it do?

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