Multiple Choice
The five steps in the lean thinking model, in order are:
A) 1.Define value, 2.Identify the pull factors, 3.Identify the value stream, 4.Make the value stream flow, 5.Revise until perfection is achieved.
B) 1.Define value, 2.Identify the value stream, 3.Make the value stream flow, 4.Implement a pull system, 5.Strive for perfection.
C) 1.Identify unproductive activities that need to be reduced, 2.Identify push factors causing those unproductive activities, 3.Develop operations so that the work flows smoothly, 4.Strive for perfection, 5.Evaluate the value that has been added.
D) 1.Identify push factors, 2.Develop strategies to turn those factors into pull factors, 3.Assess the value added by steps one and two, 4.Strive for perfection, 5.Repeat the process on a regular basis.
Correct Answer:

Verified
Correct Answer:
Verified
Q68: Which of the following is true?<br>A)Managerial accountants
Q69: A company acting ethically must adapt its
Q70: Corporate social responsibility only considers:<br>A)profitability.<br>B)sustainable business practices
Q71: Directing includes<br>A)providing a framework for management to
Q72: What is ERP?<br>A)efficient resource procurement<br>B)earnings reporting policies<br>C)enterprise
Q74: The major reporting standard for management accounting
Q75: How often should management receive or prepare
Q76: What is value chain management best defined
Q77: How have many companies significantly lowered inventory
Q78: The value chain<br>A)is affected by technology through