Topic Super Quizzes

Which of the following is both regional and specific site determinants for warehouse placement? a. Transportation b. Company history c. Quality of life d. Traffic congestion

a. Transportation

Total cost of ownership considers both the upfront purchase price as well as those additional costs necessary to operate, maintain, and dispose of the asset being considered for acquisition. a. True b. False

a. True

Which of the following should be purchased using a competitive bidding process? a. Routine items b. Bottleneck items c. Leverage items d. Strategic items

c. Leverage items

Which of the following is Taiichi Ohno's view on labor? a.) Keep striving to do more with less b.) Worker unity is more important than efficiency c.) Labor is waste d.) Defects are caused by overreliance on labor e.) Machines must not displace workers

?

Which of the following would increase a supply component's complexity? a.) A recent patent expiration resulted in new suppliers entering the market b.) A major competitor recently stopped offering products that use the same component c.) The pace of innovation in this component category had dramatically slowed d.) Two major suppliers of this component recently announced a merger

?

A product extension is designed to address or prevent which of the following phases of a product's lifecycle? a. Decline b. Maturity c. Growth d. Introduction e. All of the above

a. Decline

Which of the following is a measure from the customer's perspective on the balanced score card? a. Lead time b. Launch skills c. Innovation ability d. Value co-creation e. Core technologies

a. Lead time

Which of the following is considered a building block of lean? a.) Setting up work stations such that all workers are working at the same time b.) Minimizing inventory c.) Eliminating wasted movements d.) Automating production as much as possible

a. Setting up work stations such that all workers are working at the same time

All of the following are true about the bullwhip effect, EXCEPT: a.) Bullwhip effect results in higher inventory levels b.) Bullwhip effect results in higher out-of-stock occurrences c.) Bullwhip effect results in more varied demand levels d.) Bullwhip effect results in more varied inventory levels e.) Bullwhip effect is greater for distributors than manufacturers

?

How did Sears dominate retail in the mid-20th century? a.) Sears started the supermarket format of retailing b.) Sears built stores in the suburbs well before people started moving there c.) Sears partnered with suppliers to sell to customers at cheaper prices d.) Sears published catalogs to sell a broad array of products to consumers e.) Sears lobbied the government to limit retail competition

?

If you wanted to assess your company's overall weaknesses, which of the following questions should you ask? a.) Why are our margins under pressure? b.) Are our customer preferences changing? c.) Are there regulatory changes coming? d.) Are we capable of meeting customer needs? e.) Are there new market entrants?

?

In a recent group project, you are in charge of putting together everyone's parts of the project. However, you discovered that multiple group members worked on the same part of the project. Which of the following categories of "waste" is this? a. Inventory b. Transportation c. Motion d. Excess Processing

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Video game console manufacturers such as Sony, Microsoft, and Nintendo usually co-design their new video game consoles with suppliers such as Advanced Micro Devices and Nvidia. This is an example of which of the following types of buyer-supplier integration? a.) Collaborative forecasting b.) Vendor managed inventory c.) Early supplier involvement d.) Supplier-integrated manufacturing

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Which of the following is NOT an example of Aldi applying lean principles to its operations? a.) Using smaller bags to reduce the amount of air being shipped b.) Minimizing product assortment to reduce inventory c.) Using cheaper materials to reduce construction cost of physical stores d.) Shifting costs associated with returning shopping carts to shoppers

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You are a supply chain manager working on a cross-functional team with marketing and operations. Lately, it seems that regardless of the discussion, your colleagues from marketing and operations always agree and offer little additional input. As a result, your meetings are unusually short. You wonder if the decisions being made actually truly satisfy the needs of marketing, operations, and procurement. What you are experiencing most accurately reflects which of the following? a. Never ending debate b. Groupthink c. Social loafing d. Peer pressure e. Process breakdown

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Your company manufactures plastic toys for holidays. Currently, you are making everything inhouse. Your overall cost structure is $0.50 per toy including all variable costs (labor, materials). Your fixed overhead is $1,000,000. For the upcoming holiday season, you expect to manufacture 5,000,000 toys to satisfy demand. Recently, your buyer approached you with an idea: there's an overseas supplier that can make your toys up to the exact specifications in your designs for only $0.40 per toy. Total logistics costs, including shipping, packaging, and clearing customs would require $1,750,000. What is their cost difference? Should you outsource? a.) Yes, per unit total cost for outsourcing is $0.10 cheaper. b.) Yes, per unit total cost for outsourcing is $0.30 cheaper. c.) No, per unit total cost for outsourcing is $0.25 higher. d.) No, per unit total cost for outsourcing is $0.05 higher.

?

Your company has an upcoming deadline for delivering 25,000 toy wagons in 100 days. Your factory operates 8 hours per day. What is your TAKT time? a. 1.92 minutes b. 0.032 minutes c. 0.0192 minutes d. 0.384 minutes

a. 1.92 minutes

Which of the following is an example of a resource-access strategy for global network design? a.) A company using foreign facility to support domestic sales. b.) A company using domestic facility to support foreign sales. c.) A company using domestic facility to support domestic sales. d.) A company relocating its global headquarters in a low-tax country.

a.) A company using foreign facility to support domestic sales.

Which of the following is an example of prevention cost? a.) Ensuring that workers are properly trained b.) Selecting only highly qualified suppliers c.) Stocking extra inventory in case they're needed d.) Sending engineers to customer sites for repairs

a.) Ensuring that workers are properly trained

Which of the following is vital to establish a concurrent product design process as opposed to a sequential design process? a.) Having a cross-functional team. b.) Having a clear chain of command. c.) Ensuring that only a single function is developing the product at any given time. d.) Minimize information exchange between functions in order to ensure the purity of each function's contribution.

a.) Having a cross-functional team.

When you were designing your Gantt chart for the recipes, which of the following questions is most closely associated with identifying task dependencies in your project? a.) Something needs to be chopped before mixed with other ingredients? b.) How long does your dish need to be baked? c.) How can you break a complex dish into smaller tasks? d.) Who should be responsible for making a particular dish?

a.) Something needs to be chopped before mixed with other ingredients?

Which of the following is the most direct and primary reason why the VA hospital project cannot replicate the Chinese skyscraper's success? a.) The VA hospital is far too complex for simply focusing on stacking rooms on top of each other. b.) American bureaucracy makes it impossible to speed up the building process. c.) Chinese workers simply work faster. d.) None of the above; the VA Hospital absolutely can be built like the Chinese skyscraper.

a.) The VA hospital is far too complex for simply focusing on stacking rooms on top of each other.

Assuming a new product currently under development would require combined expenses of $10,000,000 in development costs as well as capital equipment purchases. The typical product is expected to cost about $500 in materials with an expected selling price of $1,000. At what quantity sold would the product's breakeven point? a. 10,000 units sold b. 20,000 units sold c. 30,000 units sold d. 40,000 units sold e. 50,000 units sold

b. 20,000 units sold

Assuming a new product currently under development would require combined expenses of $10,000,000 in development costs as well as capital equipment purchases. The typical product is expected to cost about $500 in materials with an expected selling price of $1,000. The company's required rate of return on the project is 20%. At what quantity sold would the company achieve its objective? a. 12,000 units sold b. 24,000 units sold c. 36,000 units sold d. 48,000 units sold e. 60,000 units sold

b. 24,000 units sold

Which of the following is a characteristic of a strategic alliance relationship? a. Low value co-creation potential b. Shared risks and rewards c. Minimal investments d. Short-term

b. Shared risks and rewards

Based on the risk classification matrix, pandemics such as COVID-19 would fall under which of the risk zones? a. Proximity b. Urgency c. Propinquity d. Critical

b. Urgency

Which of the following is NOT a firm's control decision? a.) Predicting future demand b.) Designing products to meet demand c.) Stocking necessary products to meet demand d.) Scheduling labor and production to meet demand e.) Controlling production process to minimize defects

b. designing products to meet demand

Which of the following is NOT the reason for a market chaser to go global? a.) Access to innovations b.) Access to low cost labor c.) Avoiding protectionism d.) Signaling commitment to foreign customers

b.) Access to low cost labor

Which of the following is an example of common cause variation? a.) Lower output due to a poorly trained worker b.) Different patterns in a floor board from a log of wood c.) Higher temperature in a refrigerator due to door being slight ajar d.) Higher width of a screw due to misaligned machine

b.) Different patterns in a floor board from a log of wood

Which of the following products may be considered a cash cow? a.) Valve Steam Deck (No market share, high growth) b.) Kellogg Frosted Flakes (High market share, low growth) c.) Tesla Model S (Low market share, low growth) d.) Nintendo Switch (High market share, high growth)

b.) Kellogg Frosted Flakes (High market share, low growth)

Which of the following is the primary purpose of a work breakdown structure? a.) Assign responsibilities to different team members to promote accountability. b.) Show all the major tasks that need to be completed and how they related to one another. c.) Develop contingencies for each subcomponent of the overall project. d.) Establish a timeline that can be used to manage smaller components of a large project.

b.) Show all the major tasks that need to be completed and how they related to one another.

What is the primary purpose of value stream mapping? a.) To understand what part of your production process adds the most value. b.) To show how the process currently works c.) To show how the process should be optimized d.) To perform a cost-benefit analysis of whether to focus on efficiency or effectiveness.

b.) To show how the process currently works

When you visit Walmart of Kroger, sometimes you may see an employee from Pepsi or Coke restocking shelves. What you are seeing is probably reflecting which of the following types of buyer-supplier integration? a.) Collaborative forecasting b.) Vendor managed inventory c.) Supplier-integrated manufacturing d.) Insourced warehousing

b.) Vendor managed inventory

The chief supply chain officer of your company recently approached you to assess the company's overall global network design. Which of the following should be the first questions you ask yourself as a part of your task? a.) Are we in the right parts of the world? b.) What is the company's overall competitive strategy on the market? c.) Who are our most vital customers? d.) Are our products being delivered by the right logistics service providers?

b.) What is the company's overall competitive strategy on the market?

The net present value of a new product launch considers all of the following, EXCEPT: a.) What will the product cost to develop and launch? b.) What is the product's overall fit within the company's strategy? c.) How many units of the product can be expected to sell? d.) What will it cost the company to market and promote the product? e.) How much profit will be generated by each unit of the product sold?

b.) What is the product's overall fit within the company's strategy?

What is the first step of the lean journey? a. Eliminate wasted space b. Eliminate process waste c. Adopt the customer's perspective d. Adopt the supplier's perspective

c. Adopt the customer's perspective

Recently, your company's chief procurement officer approached you with the task of leading a new supplier development initiative for a component that is technologically complex, unique, and is available through only a few suppliers. While this component does not command a very high aggregate spend, probably accounting for only 1% of your company's overall costs of goods sold, a tiny bit goes into every single product. Without this component, your production cannot continue. Which of the four strategic buying priorities does this new component fall under? a.) Routine b.) Leverage c.) Bottleneck d.) Critical

c. Bottleneck

Which of the following is NOT a competitive advantage of lean operations? a. Low inventory b. Continuous improvement c. Expendable and replaceable employees d. Zero-waste

c. Expendable and replaceable employees

During a team meeting, your team leader reviewed the scope of the project and determined smaller milestones your team needs to meet according to schedule. She then assigned individual team members specific responsibilities and assessed approximate completion time necessary for each task. Which of the four phases of project management is your team currently going through? a. Delivery b. Initiating c. Planning d. Closure

c. Planning

In which of the following ways was Sears was ahead of Amazon in e-commerce in the early 90s, before Amazon was even founded? a.) Sears partnered with Chinese suppliers to sell directly to consumers b.) Sears started but closed a second-hand book retail website c.) Sears started an internet portal with technology and media partners d.) Sears built warehouses dedicated to parcel shipping deliveries e.) Sears advertised to consumers to visit its retail website

c. Sears started an internet portal with technology and media partners

Which of the following is an example of internal failure costs? a.) Ensuring that workers are properly trained b.) Selecting only highly qualified suppliers c.) Stocking extra inventory in case they're needed d.) Sending engineers to customer sites for repairs

c. Stocking extra inventory in case they're needed

When you are cleaning your room, you find that it's a lot easier to clean your room frequently throughout the day rather than waiting until everything is an absolute mess. Which of the 5S's principles is this? a. Sort b. Simplify c. Sweep d. Standardize e. Sustain

c. Sweep

It had been said that the COVID-19 pandemic is a black swan event: it's possible but exceptionally rare for animal viruses to infect humans, and as a result no one saw it coming and no one knew its effects, and no one knew how to prepare for it. Which of the following types of risks most accurately describes COVID-19? a. Known-knowns b. Known-unknowns c. Unknown-unknowns d. A calculated risk

c. Unknown-unknowns

If you wanted to assess your company's overall strengths, which of the following questions should you ask? a.) Can we innovate or leverage new channels? b.) Are socio-cultural trends affecting our market? c.) What resources do we have unique access to? d.) Do we manage technology well? e.) Do we have the right infrastructure in place?

c. What resources do we have unique access to?

ou are managing a burger restaurant. The average burger patty you serve is supposed to be 6 ounces of beef. Because these patties are handmade, there tends to be a natural deviation and you believe anywhere from 5.9 to 6.1 ounces would be acceptable. However, you noticed that your overall beef expenses have trended up despite your supplier charging you the same unit price. You decided to take a random sample of the different beef patties your cooks have been making. You found that on average, your burger patty contained 6.05 ounces of beef, with a standard deviation of 0.03 ounces. What is the adjusted process capability ratio and interpretation? a.) 0.556; Satisfactory b.) 1.111; Satisfactory c.) 0.556; Unsatisfactory d.) 1.111; Unsatisfactory

c.) 0.556; Unsatisfactory

Your company uses a very capital-intensive production process for which economies of scale directly determines your product's competitiveness. Which of the following is the most appropriate network configuration approach? a.) Build your factories as close to resources as possible. b.) Spread your production base across many locations. c.) Consolidate your production into a few large facilities. d.) Employ a market chaser resource strategy.

c.) Consolidate your production into a few large facilities.

Which of the following is NOT a part of the Continuous Lean Journey? a.) Understanding what customers want b.) Ensuring that processes do not have obstructions c.) Drive component costs lower above all else d.) Allow demand to drive activities

c.) Drive component costs lower above all else

Which of the following is the most difficult to identify in terms of the total cost of ownership? a.) How much does something cost b.) How much does it cost you to hold something in inventory c.) How likely it is for something you buy to fail while in use d.) What proportion being produced is of high enough quality e.) How much does it cost to ship something

c.) How likely it is for something you buy to fail while in use

Which of the following is the right sequence for phases of project management? a.) Planning, Initiating, Delivery, Closure b.) Delivery, Closure, Initiating, Planning c.) Initiating, Planning, Delivery, Closure d.) Initiating, Delivery, Planning, Closure

c.) Initiating, Planning, Delivery, Closure

Which of the following is true with regard to the technology adoption cycle? a.) Tech enthusiasts purchase the most of any new product in its lifecycle b.) Conservatives are more profitable than pragmatists c.) Laggards purchase more products than tech enthusiasts in a product's lifecycle d.) Pragmatists do not purchase as much as laggards e.) Visionaries tend to make purchases earlier than tech enthusiasts

c.) Laggards purchase more products than tech enthusiasts in a product's lifecycle

Which of the following is an innovation and learning perspective measure on the balanced score card? a.) Lead time b.) Defect level c.) Launch skills d.) Forecast accuracy e.) Cycle time

c.) Launch skills

Which of the following is NOT a benefit of a cross-functional team? a.) Enhanced communications and cooperation b.) Diverse set of talent and expertise c.) More willingness among group members to get along d.) Faster task completion e.) More rapid and smooth buy-in of the final decision

c.) More willingness among group members to get along

In using multi-criteria analysis for supplier selection, which of the following components of the analysis should be adjusted for verifying the robustness of your decision? a.) Individual ratings for each dimensions for each supplier. b.) Aggregate supplier scores c.) The weights used for each criteria d.) The suppliers being evaluated

c.) The weights used for each criteria

What is the primary motivation of a firm that employs the market chaser strategy? a.) To achieve market leadership through low cost production. b.) To create new product categories for market expansion. c.) To be able to eventually sell to customers in a foreign country through local offices. d.) To diversity supply market risks through global expansions.

c.) To be able to eventually sell to customers in a foreign country through local offices.

Which of the following is an example of project management? a.) Apple updating its iPhone operating system. b.) Tesla optimizing its vehicle's power management to increase battery range. c.) Valve designing a new portable gaming console d.) Honda issuing a recall for defective airbags.

c.) Valve designing a new portable gaming console

You are working with a group, and you noticed that one of your group members was very enthusiastic about the project during the first few weeks. He voluntarily took on a lot of responsibilities and started on every single one of them, sharing updates proactively with all group members. But after a couple of weeks, communications from him became intermittent. When your group met again four weeks later, he showed up and did not make any progress on any of the parts of the project for which he is responsible. Which of the four work styles most accurately describes this team member? a. Eagle b. Beaver c. Bloodhound d. Cheetah e. Redhawk

d. Cheetah

You are a supply chain manager working on a cross-functional team with marketing and operations. During one meeting, your colleagues from marketing and operations believed that the company should stockpile products from the highest quality supplier in order to minimize stock-out potential. They are trying to tell you that the majority rules so you should go along with their decision even if you disagreed, so that meetings can end and you can all go get a drink together. What you are experiencing most accurately reflects which of the following? a. Never ending debate b. Groupthink c. Social loafing d. Peer pressure e. Coercion

d. Peer Pressure

How did Sears dominate retail in the early 20th century? a.) Sears started the supermarket format of retailing b.) Sears built stores in the suburbs well before people started moving there c.) Sears partnered with suppliers to sell to customers at cheaper prices d.) Sears published catalogs to sell a broad array of products to consumers

d. Sears published catalogs to sell a broad array of products to consumers

All of the following are characteristics that differentiate services from products, EXCEPT: a.) Services cannot be shipped b.) Services cannot be stored c.) Delivering services is more difficult to control d.) Delivering services require less customer contact e.) Services are less tangible

d. delivering services require less customer contact

What is the primary responsibility of a company's operations function? a.) To transform inputs into outputs b.) To increase the value of goods and services c.) To communicate to customers of the value of goods and services d.) Only a and b e.) All are operations' primary responsibilities.

d. only a and b

A furniture manufacturer aims to make sure that all furniture boards are in between 0.5 and 0.6 inches in thickness, with a target thickness of 0.55 inches. A random sample of production output yielded a sample average thickness of 0.545 inches with a standard deviation of 0.015. What is the adjusted process capability ratio and your conclusion? a.) 1.11, the process quality is not adequate. b.) 1.11, the process quality is adequate. c.) 1.00, the process quality is not adequate d.) 1.00, the process quality is adequate.

d.) 1.00, the process quality is adequate.

When a project is falling behind, managers can resort to project "crashing." Which of the following is an example? a.) A manager scrapping the project to salvage what can be repurposed. b.) A manager ordering a cross-functional team "crashing," or sleeping, at the office until the project is complete. c.) A manager dramatically narrowing the scope of the project in order to quicken its completion time. d.) A manager increasing the project budget in order to catch up to the necessary schedule.

d.) A manager increasing the project budget in order to catch up to the necessary schedule.

Which of the following is an example of conformance quality? a.) Ensuring that a grill heats quickly and evenly b.) Improving an iPhone charging cable's longevity c.) A PC's ease of repair d.) A store's layout being the same across the entire chain

d.) A store's layout being the same across the entire chain

Based on the Coolest Cooler articles, which of the following seems to have been the biggest cause of its epic failure? a.) Coolest did not fully understand the cost of every feature it wanted to add. b.) Coolest did not follow an adequate cross-functional product development process to understand everything from features to all aspects of production costs. c.) Coolest failed to fully understand its supply chain from components to production to delivery. d.) All of the above; supply chains are key to business success.

d.) All of the above; supply chains are key to business success.

You are a buyer for an automaker. The specific component under your charge goes into every single product of your company, accounting for more than 30% of your company's overall spend and is technologically unique. The component market is dominated by a duopoly. Which of the four strategic buying priorities does your component fall under? a.) Routine b.) Leverage c.) Bottleneck d.) Critical

d.) Critical

Which of the following is an example of the type of question you should ask concerning supply chain network configuration? a.) How can your suppliers in Asian synchronize their activities with domestic production? b.) How can your research and development staff collaborate with procurement? c.) How can you ensure that your products are timely shipped to your customers? d.) How can you determine in which part of the world you should build a factory?

d.) How can you determine in which part of the world you should build a factory?

Every year, Car and Driver magazine releases a "Most American" ranking of cars sold in America with the highest proportion of components sourced from America. Automakers that advertise their car's "Most American" ranking are probably pursuing which supply chain configuration goal? a.) Factor conditions b.) Scale economies c.) Relationships d.) Image

d.) Image

Which of the following accurately depicts the cycle of satisfaction? a.) Invest in next-gen products, develop product, obtain deep insight, verify financial viability b.) Obtain insight, verify financial viability, invest in next-gen products, develop products c.) Develop products, verify financial viability, obtain deep customer insight, invest in next-gen products. d.) Obtain insight, develop product, verify financial viability, and invest in next-gen products.

d.) Obtain insight, develop product, verify financial viability, and invest in next-gen products.

All of the following are reasons that support Pabst Blue Ribbon's (PBR) decision to outsource beer brewing to companies like Coors, EXCEPT: a.) PBR's strategic focus is on marketing rather than brewing. b.) PBR does not have dedicated assets for brewing beer. c.) Coors can brew beers far better than PBR. d.) PBR is actually very good at brewing beer.

d.) PBR is actually very good at brewing beer.

When your project schedule slips, which of the following is NOT something you should do? a.) Look at the project to assess where is the bottleneck that is holding up the rest of the project b.) Talk to everyone on the team to get back on the same page c.) Consider whether certain parts of the project needs to be altered, and if so, what are the costs and benefits. d.) Recreate a new team to takeover the project in place of the current team.

d.) Recreate a new team to takeover the project in place of the current team.

Which of the following is the biggest difference between the Henry Ford approach and the Toyota Production System approach to automobile manufacturing? a.) The Toyota Production System provides greater economies of scale b.) The Henry Ford approach yields higher quality c.) The Henry Ford approach allows for greater customization d.) The Toyota Production System uses just-in-time inventory management

d.) The Toyota Production System uses just-in-time inventory management

All of the following are true about target costing analysis (think about your PC design activity), EXCEPT: a.) It seeks to establish target sales price before actual product design. b.) It requires firms to perform "what if" analysis for different designs and materials. c.) Even after designing a product, a firm can still choose to not launch it. d.) The goal of target costing is to become cost leaders in a product segment. e.) The firm need to understand what customers want and how much they are willing to pay before product design.

d.) The goal of target costing is to become cost leaders in a product segment.

Which of the following is an example of bad outcomes of globalization? a. Lowered living standards b. Lower quality c. Less innovation e. Greater complexity

e. Greater complexity

Which of the following is the easiest to identify in terms of the total cost of ownership? a. Taxes, duties, carrying cost. b. Defective materials. c. Factory yield. d. Transportation costs e. Purchase price

e. Purchase price

Now that you are sharing a house with housemates, you find it increasingly difficult to keep the house tidy and clean. The reason is that while you are doing your part, your housemates are not. They say that they don't know where to put everything or how to clean certain parts of the house, despite there already being a cleaning chart posted in different parts of the house. So you decide to have a meeting to train all your housemates on how to proactively clean the house. Which of the 5S's principles should you employ? a. Sort b. Simplify c. Sweep d. Standardize e. Sustain

e. Sustain

Sears chairman, Eddie Lampert, blamed "difficult retail environment" for the Sears decline, rather than his refusal to invest back into Sears in order to extract as much cash from the company as possible. Which of the following are directly contradictory to his statement? a.) Eddie Lampert managed the real estate company that benefits from lease payments made by Sears. b.) Eddie Lampert manages the hedge fund that loans money to Sears. Any bad debt loaned to Sears can be used as tax write-offs. c.) Eddie Lampert reinvested less than 1% of Sears annual revenues back into store operations and maintenance. d.) The overall American retail spending continued to increase year after year. e.) All of the above; A company's operations and supply chain strategy must be aligned with a customer-centric, rather than cash flow-centric strategy.

e.) All of the above; A company's operations and supply chain strategy must be aligned with a customer-centric, rather than cash flow-centric strategy.

Which of the following is an example of what a right-brained manager would ask? a.) What is the company's overall return on investment on a new product? b.) What vulnerabilities are present in the company's supply contract? c.) Which of the two production facilities should my company expand? d.) What are some fundamental assumptions in my required rates of return? e.) Does the new product concept seem to fit with the firm's overall strategy?

e.) Does the new product concept seem to fit with the firm's overall strategy?

Which of the following is (are) primary benefits associated with the Toyota Production System over the Henry Ford approach? i. Production economies of scale: maximizing units produced every production run. ii. Lower rate of defects: eliminating all defects as they are identified. iii. Lower work-in-process inventory: holding only as much inventory as needed for production. i only ii only iii only i and ii ii and iii All three are TPS's benefit over the Henry Ford approach.

ii and iii