CH 10
Which categories of inventory typically go through a cycle count?
"A" items "C" items "B" items
What is the minimum number of sample sets suggested for control charts with variable measurement? 20 30 35 25
25
In the ABC approach, B items account for approximately _____% of the items in inventory.
35
The z-score associated with a _____ percent probability of not stocking out is 1.64.
95
Computer cycle counting programs can produce a cycle count notice after which events?
A zero balance on-hand A specified level of activity A positive balance but a backorder was created
In which step of the DMAIC cycle do you determine the most likely causes of defects and understand why defects are generated? Define Measure Analyze Improve
Analyze
The classic "I love Lucy" scene where they are inspecting the chocolates on the assembly line is an example of what type of quality cost? Appraisal External failure Internal failure Prevention
Appraisal
Which of the following is not a dimension of quality? Perceived quality Durability Appraisal Aesthetics
Appraisal
Which of the following is an operational goal of total quality management (TQM)? 1. Careful design of the product or service. 2. Ensuring that the organization's systems can consistently produce the design. 2 only Neither 1 or 2 Both 1 and 2 1 only
Both 1 and 2
Typically when using ABC classification, the low dollar value, or measure of importance, items are in group _____, while high dollar value items are in group _____.
C A
Which of the following is not considered when calculating the order quantity in a fixed-time period model?
Current stock at the supplier
_____ _____ is a physical inventory-taking technique in which inventory is counted frequently, often times on a time-based schedule.
Cycle counting
Which six sigma tool requires changing each individual variable to determine the most influential one? Cause-and-effect diagrams Pareto Charts Design of experiments (DOE) Flowcharts
Design of experiments (DOE)
What term refers to the inherent value of the product in the marketplace? Conformance Design quality Reliability Performance
Design quality
Where in a process is there an opportunity for defects? Critical steps or activities Every step or activity Final step or activity First step or activity
Every step or activity
Warranty costs and customer complaints are examples of which type of quality cost? Appraisal costs External failure costs Prevention costs Internal failure costs
External failure costs
Which inventory system requires continuous monitoring of inventory levels? Fixed-order quantity system Fixed-time period system Single period system Time to maintain systems
Fixed-order quantity system
ISO documents provide detailed requirements for meeting the standards and describing the tools used for improving quality in the firm. These documents are: Specific to a particular industry. Generic, but do not apply to manufacturing. Generic and applicable to any organization. Generic, but do not apply to services.
Generic and applicable to any organization.
Which of the following people was not considered one of the quality gurus? Joseph Juran Henry Ford W. Edwards Deming Philip Crosby
Henry Ford
_____ turn is the ratio of costs of goods sold to average inventory value.
Inventory
Which of the following is influenced by the customer order decoupling point? Multiple select question. Supplier base Quality system Inventory investment Lead time
Inventory investment Lead time
The graphical display of the probability of accepting lots with varying percentages of defects is termed? Lot tolerance percent defective Operating characteristic curves P-chart and C-chart Acceptance sampling
Operating characteristic curves
Which of the following control charts must use a sample large enough to allow counting of the attribute? C-chart Range chart Mean chart P-chart
P-chart
The underlying distribution for the c-chart is which of the following? Gamma Normal Poisson Exponential
Poisson
Because of favorable pricing in the short-term, a company is looking at ordering a larger-than-needed optimal quantity of an item, and keeping the excess in inventory. Which model is the company likely using to arrive at this decision?
Price break
Which of the following is a quality management standard developed specifically for the automobile industry? QS-9000 ISO 9000 ISO 140001 TL 9000
QS-9000
Which of the following is a plot of the average of the range within each sample? P chart C chart R-chart XX-chart
R-chart
Which of the following is a quality management standard developed specifically for the telecommunications industry? ISO 140001 TL 9000 QS-9000 ISO 9000
TL 9000
ISO, international standards for quality management and assurance, was developed by? International Support of Standards The International Organization of Standardization International Suppliers Organization Kaoru Ishikawa
The International Organization of Standardization
Which is the best form of ISO certification? There is no best form Third party Second party First party
Third party
The standard practice in statistical process control for variables is to set control limits to how many standard deviations from the mean? Three One Two Four
Three
Which of the following is not a cost associated with inventory management? Set up costs Transportation costs Shortage costs Holding costs
Transportation costs
A fixed-order quantity model is triggered by inventory dropping to a specified level.
True
True or false: A product can have high design quality with low conformance quality, and vice versa.
True
True or false: By taking advantage of economic purchase order sizes, one can usually achieve lower per-unit shipping costs.
True
True or false: The economic order quantity depends upon three factors: the annual demand, the setup cost, and the annual holding cost of one unit of inventory.
True
True or false: The effect of setting specification limits on product design allows businesses to monitor processes against these limits.
True
True or false: The lot size has little effect on the risk associated with an acceptance sampling plan.
True
_______________ are characteristics that can be measured numerically, such as weight, length, or diameter.
Variables
What do Six Sigma programs seek to reduce in processes? Standardization Redundancy Excess Variation
Variation
Which of the following is a policy and control of an inventory system? When stock should be replenished The payment terms associated with buying the stock from vendors Who should order the stock How one will finance the stock
When stock should be replenished
If the sample size varies, the standard deviation and upper and lower process control limits should be recalculated only every 200 units. have new limits calculated if equipment is calibrated. remain the same once calculated. be recalculated for each sample.
be recalculated for each sample.
To calculate the reorder point for a fixed-order quantity model with safety stock, all of the following are required except
current inventory level.
Each step or activity, when using six sigma, a company performs represents an opportunity for a(n) _________ to occur. mishap cost defect inspection
defect
Statistically, regardless of lot size, the probability of defects remains the same assuming that Multiple select question. there are no defects. defects are randomly spread throughout. each sample size is adjusted. the lot is randomly chosen.
defects are randomly spread throughout. the lot is randomly chosen.
Inventory classifications of A, B and C are based on
dollar value or measure of importance.
ISO 14000 addresses the need to be _______________ responsible.
environmentally
The economic order quantity (QoptQopt) occurs when the annual ordering and holding costs are _____.
equal
If Acme groceries wanted a 0.95 probability of not stocking out, the "z" value that would be used in the calculation to find the safety stock is _______.
equal to 1.64, located in the z chart.
Demand is termed as independent if it comes from sources _____ to the firm and is not related to other _____.
external products
If manufacturing equipment within a facility produces at different rates, one can use inventory to maintain _______________ of operations.
flexibility
A single-period _____ model helps in situations where a company is trying to produce the optimal quantity of inventory for a single event, minimizing overproduction costs and potential lost revenues.
inventory
In a fixed-time period inventory model, the average demand over the vulnerable period depends on the review cycle (T) and the constant _____ time (L).
lead
The time between placing an order and receiving the item(s) is called the reorder point. lead time. demand variation. cycle count.
lead time.
A supply of materials at a work center allows workers to use just-in-time production techniques. order materials more frequently. take frequent breaks from production. maintain independence of operations.
maintain independence of operations.
Group C items may only be ordered _____ or _____ due to their low importance and value.
monthly bimonthly
In the beginning, it is best to have _______________ frequent sampling until confidence builds in the process.
more
In fixed-order quantity systems, the amount of inventory that minimizes total costs is called the _____ _____ _____.
optimal order quantity
As it relates to inventory, a buyer's time expended to prepare the purchase order for more material is considered a(n) ____ cost. ordering holding buffer execution
ordering
The managerial and clerical costs to prepare purchase or production orders are called shortage costs. ordering costs. logistics costs. holding costs.
ordering costs.
In a single period model, CoCorepresents the cost per unit associated with the _____ estimating of demand.
over
Stock carried to absorb variation in demand is known as _______________ stock.
safety
The purpose of _______________ is to find when the process has changed in some nonrandom way.
sampling
A price-break model suggests that the _____ price of an item varies with order _____.
selling size
Inventory turn is a key measure for a business and directly relates to the supply chain manager's performance. the quality of management. the price paid for raw materials. the financial performance of the firm.
the financial performance of the firm.
When calculating the reorder point for a fixed-quantity model with safety stock, the value "z" represents
the number of standard deviations associated with a given service probability.
What is used to periodically check that a process is in statistical control? Scrap parts Sampling The process is only measured in the beginning 100 percent inspection
Sampling
True or false: Companies should only benchmark firms that are in the same industry to get accurate results.
False
An assumption in a p-chart calculation is that the sample size is which of the following? Fixed Variable Static Dynamic
Fixed
In cycle counting, the accuracy level recommended by experts for "A" items is +/-
0.2%.
Which of the following are assumptions that justify the costs of quality? 1. Failures occur 2. Prevention is cheaper 3. Performance can be measured 1, 2, and 3 only 1 and 2 only 2 and 3 only 1 and 3
1, 2, and 3
The cost of quality has been estimated at what percentage of every sales dollar? 20-25% 5-10% 15-20% 10-15%
15-20%
Total quality management became a national concern in the United States during what decade? 1940s 1980s 1990s 2000s
1980s
The highest interest of an operating characteristic curve is between the and the _______________ LTPD.
AQL
Which category of inventory is managed most closely by the firm?
A items
Which term describes sampling performed on goods that already exist to determine what percentage of products conform to specifications? Conforming sampling Sampling limits Sampling error Acceptance sampling
Acceptance sampling
In any inventory system, _____ is important for a smooth production process so that customer orders can be processed as scheduled and not held up because of unavailable products.
Accuracy
The fixed-order quantity model has a larger average inventory because it must also protect against stock-out during the review period, T; fixed-time period model has no review period.
False
True or false: An OC curve should be shallow in the region of most interest.
False
In which step of the DMAIC cycle would you identify ways to remove the cause of defects and confirm key variables? Measure Improve Control Analyze
Improve
Which of the following are inventory holding costs? Multiple select question. Insurance Opportunity cost of capital IT network lease Storage facility costs Requisition
Insurance Opportunity cost of capital Storage facility costs
If a company is trying to find the optimal amount of inventory to produce for a single event, it is likely to deploy which type of inventory model? Single-period LIFO Fixed-order quantity Periodic
Single-period
What term refers to the philosophy and methods that companies use to eliminate defects in their products and processes? DPMO Design quality Quality Six Sigma
Six Sigma
Which of the following is the correct total annual cost equation?
TC = DC + D/Q*S+Q/2*H
When placing an order for a single period, which of the following is considered? Multiple select question. The cost of transportation The cost of overestimating demand The cost of placing an order The cost of underestimating demand
The cost of overestimating demand The cost of underestimating demand
Which of the following are the four main issues to address in creating a control chart? Multiple select question. The number of samples The design specifications The frequency of samples The size of the samples The control limits
The number of samples The frequency of samples The size of the samples The control limits
Work-in-process is considered ______ inventory.
manufacturing
The sum of annual purchasing costs, annual ordering costs, and annual holding costs is known as the total inventory cost. total order cost. total annual cost. annual product cost.
total annual cost.
In constructing any inventory model, there has to be a functional relationship between the variable of interest and the measure of effectiveness. average product costs and average daily lead time. order cycle time and transportation costs. annual demand and lead time in days.
variable of interest and the measure of effectiveness.
The cost of quality involves the cost of Multiple select question. supplies. warranties. rework. scrap.
warranties. rework. scrap.
When measurements from periodic samples stay _______________ the control limits, the process can be assumed to be working properly.
within
Firm ABC has an annual demand for 2,000 widgets. Their typical order quantity is 400 units and they maintain a safety stock of 50 units. What is their average inventory?
250
Match the advantages of inventory with their definitions. Maintain independence of operations Meet variation in product demand Take advantage of economic purchase order size Accommodate variability in raw material delivery time Provide a buffer to absorb unexpected shortages or disruptions from vendors Acts as a buffer to absorb unexpected periods of high demand Order larger quantities to reduce shipping, receiving, and clerical costs Allow the work center flexibility to work without undue influence from other work centers
Maintain independence of operations: Allow the work center flexibility to work without undue influence from other work centers Meet variation in product demand: Acts as a buffer to absorb unexpected periods of high demand Take advantage of economic purchase order size: Order larger quantities to reduce shipping, receiving, and clerical costs Accommodate variability in raw material delivery time: Provide a buffer to absorb unexpected shortages or disruptions from vendors
Which distribution is used to calculate the probability of producing a defect? Exponential Weibull Poisson Normal
Normal
Which of the following is a reason for keeping a supply of inventory? To improve cash flow To meet variation in product demand To build a bank of inventory needed for lean manufacturing To improve suppliers' cash flow
To meet variation in product demand
The general belief is that the correct cost for a well-run quality management program is under 50% 10% 0% 2.5%
2.5%
In inventory management, the Pareto principle suggests that _____% of the items account for _____% of the total inventory cost.
20 80
How many defects per million units are permitted to meet Six Sigma standards? 4.3 3.4 10.0 6.0
3.4
Six Sigma refers to Multiple select question. The number of quality experts each firm should employ. A description of the quality goal of no more than 3.4 defects per million opportunities. The quality award given to the supplier with the fewest defects. A quality improvement philosophy and program.
A description of the quality goal of no more than 3.4 defects per million opportunities. A quality improvement philosophy and program.
Which of the following is not a reason to use inventory as a safeguard against raw material delivery time variation? An unexpected strike at a vendor's plant As a supplement to vendor-managed inventory programs Shortage of material at the vendor's plant Normal variation in shipping time
As a supplement to vendor-managed inventory programs
When a product or service can have more than one defect per unit, which of the following is the most appropriate chart? Range chart Mean chart P-chart C-chart
C-chart
In the acronym DMAIC, what does the C stand for? Conformance Charts Continuous improvement Control
Control
Which of the following are typical objectives of process control plans? Multiple select question. Identify new design specifications. Detect shifts in the process. Provide information about whether items are meeting design specifications. Develop new processes.
Detect shifts in the process. Provide information about whether items are meeting design specifications.
True or false: ISO 9000 recognizes companies each year for outstanding quality management systems.
False
Which of the following is considered distribution inventory? Raw material inventory awaiting a machining operation Finished goods inventory in a distribution center Work-in-process inventory Finished goods at a department store waiting to be sold
Finished goods inventory in a distribution center
Which of the following is/are manufacturing inventory items? Multiple select question. Finished products Work-in-process Component parts in manufacturing In-transit supplies
Finished products Work-in-process Component parts in manufacturing
XYZ Company uses an inventory model where the amount requisitioned is fixed and ordering is triggered by inventory dropping to a specified level. What type of inventory system is XYZ using? Single-period Perpetual First In - First Out (FIFO) Fixed-order quantity
Fixed-order quantity
Which of the following is also called a periodic review system? Single-period Fixed-order quantity Perpetual Fixed-time period
Fixed-time period
Which of the following highlights a dependent demand scenario? Gallons of milk purchased at a grocery store Smart phones purchased at a retailer Four tires that are needed to complete the assembly of a car Flowers purchased at a garden center
Four tires that are needed to complete the assembly of a car
Match the inventory costs with their definition. Instructions Holding costs Setup costs Ordering costs Shortage costs Costs associated with initiating production of a product. Costs incurred when a product is not available when ordered by a customer. Costs of shortage, loss, handling, insurance, obsolescence. Costs associated with placing an order with a supplier.
Holding costs: Costs of shortage, loss, handling, insurance, obsolescence. Setup costs: Costs associated with initiating production of a product. Ordering costs: Costs associated with placing an order with a supplier. Shortage costs: Costs incurred when a product is not available when ordered by a customer.
Which of the following is an example of a variable? Inspecting a car's paint finish for blemishes Inspecting a roll of fabric for snags Inspecting a piece of lumber for knotholes Inspecting the diameter of holes drilled into a pipe
Inspecting the diameter of holes drilled into a pipe
Which of the following is not an example of when to use a c-chart? Inspecting a piece of lumber for knotholes Inspecting the diameter of holes drilled into a pipe Inspecting a roll of fabric for snags Inspecting a car's paint finish for blemishes
Inspecting the diameter of holes drilled into a pipe
Which type of quality cost deals with scrap, rework and repair? Prevention costs Appraisal costs Internal failure costs External failure costs
Internal failure costs
_____ is the stock of any item or resource used in an organization.
Inventory
When a service is being provided, who is typically responsible for ensuring quality at the source? Manufacturing manager Service technician Location operations manager Customer
Location operations manager
If the percentage of defectives in acceptance sampling is greater than a specified amount, it is termed with which of the following? UCL Acceptable LCL Low quality
Low quality
According to the inventory control system matrix, if a company has highly independent products and high transaction costs, it is likely to deploy what type inventory control process? Rate-based synchronous systems Materials requirements planning Reorder point Manual two-bin
Manual two-bin
Expenditures related to achieving product or service quality include all of the following except: Appraisal costs Manufacturing costs Failure costs Prevention costs
Manufacturing costs
Which analytical tool of Six Sigma breaks down a problem into the relative contributions of its components? Run charts Control charts Pareto charts Flow charts
Pareto charts
Which of the following is a form of inventory? Multiple select question. Parts waiting to be assembled Finished products held in a warehouse Raw material held in a warehouse Money owed to a firm by its customers
Parts waiting to be assembled Finished products held in a warehouse Raw material held in a warehouse
Brand name recognition is an example of which dimension of quality? Features Serviceability Reliability/durability Perceived quality
Perceived quality
Which of the following charts is used when the measure for the sample is weight, volume, number of inches or other variable measurements? Multiple select question. R-chart P-chart XX-chart C-chart
R-chart XX-chart
Which of the following is defined as the difference between the highest and lowest numbers in a sample? Range Standard deviation Mode Median
Range
What is the preferable sample size in process control involving the measurement of variables? Large Unequal Small Variable
Small
If the process mean shifts away from the nominal value (middle) toward either the higher or lower specification, the capability index will shift which direction? Larger Smaller Median Average
Smaller
In statistical quality control (SQC) terminology, sigma is often called which of the following? Standard deviation Median Mode Sample average
Standard deviation
Which of the following terms describes testing a random sample of output from a process to determine whether the process is producing items within a preselected range? Statistical attribute control Statistical process control Process capability index Process tolerance limits
Statistical process control
True or false: The order quantity in a fixed-order quantity model is the same, regardless if demand is known or uncertain.
True
True or false: The second step in the price-break model may not be necessary if the first feasible economic order quantity is the lowest price.
True
True or false: Total quality management requires companies to deal with all dimensions of products and services that are important to the customer.
True
True or false: When a vendor makes routine visits to a firm to take orders, a fixed-time period model may be a good choice.
True
True or false: When analyzing a price-break model, it is possible that the economic order quantity that is calculated is either higher or lower than the range to which the price corresponds.
True
True or false: When safety stock is expected to be on-hand, the average inventory value calculation is (Q/2+SS)*C.
True
_______________ and ________________ specification limits define acceptable parameters and the target value of a process.
Upper Lower
When larger samples are needed for finer variations in a process, which chart would be better suited? C-chart XX P-chart R-chart
X
Which two control charts are typically used together? Multiple select question. XX-chart C-chart P-chart R-chart
XX-chart R-chart
Which letter denotes the maximum number of defective items that can be found in the sample before the lot is rejected? a c b n
c
When the mean and standard deviation of a process is operating such that the control limits are acceptable relative to specification limits, the process is said to be capable. within range. acceptable. out of range.
capable.
There are two aspects to analyzing the data for benchmarking, they are Multiple select question. identifying performance measures and using the exact system for your firm. comparing actual processes. asking the firm analyzed to implement their process for your firm. comparing performance of the process against certain measures.
comparing actual processes. comparing performance of the process against certain measures.
Fixed-order quantity models assume there is _________ tracking of inventory.
continual
Calculation of the reorder point for a fixed-quantity model with safety stock requires that one know the average daily _____ and the _____ time.
demand lead
When then number of needed items are computed based on the number of higher-level items produced, one is operating in a(n) _____ demand environment.
dependent
Fixed-time period is an inventory control method where firms place orders periodically, but the order quantity is ___________ every time.
different
Inventory turn is calculated by dividing cost of goods sold by average inventory value. dividing average inventory value by cost of goods sold. dividing prices for raw goods by the quantity ordered. dividing current inventory by average inventory value.
dividing cost of goods sold by average inventory value.
A fixed-time period inventory model carries a ____ level of safety stock than a fixed-order quantity system.
higher
Campbell's Soup makes products for Kroger and other grocery stores based on sales to the final consumer. This inventory management environment is characterized as ________ demand. marketing forecasted dependent independent
independent
The set of policies and controls that monitor levels of inventory and determine what levels should be maintained, when stock should be replenished, and how large orders should be is called a(n) _____ system.
inventory
When calculating the order quantity in a fixed-time period model with safety stock, the formula is Order Quantity = Average demand over the vulnerable period + safety stock - _____ currently on-hand.
inventory
The current amount of inventory (on-hand quantity plus on-order minus backordered) is known as the inventory demand. inventory position. inventory available. inventory level.
inventory position.
In a fixed-time period system, inventory monitoring happens _____ frequently than in a fixed-order quantity system.
less
Firms enter into _____________ relationships with vendors, this changes "how many is ordered" to "how many is delivered" with each order. short-term slow turn-time quick turn-time long-term
long-term
Safety stock inventory levels are determined by the _____ of stock out at a given desired service level.
probability
Which of the following is not a quality management principle in ISO 9000? process approach customer focus continual improvement product design
product design
One purpose of inventory is to provide flexibility in _______________ _______________, this can increase lead times but reduce setup costs.
production scheduling
Cost of quality (COQ) is a primary function for the quality control department. manufacturing manager. customer service supervisor. supply chain manager.
quality control department.
A fixed-order _____ model uses a reorder point, R, to trigger an order of an optimal amount of product, labeled Q.
quantity
In companies using a fixed-order quantity model, a consistent inventory level is used as a trigger to order more product. This inventory level is called the ordering guideline. point of entry. execution threshold. reorder point.
reorder point.
Acme Company carries an additional level of inventory beyond the expected demand during reorder lead times. This additional inventory is known as safety stock. backorder stock. raw material. just-in-case supplies.
safety stock.
When a customer audits its supplier in regards to ISO certification, this form of certification is referred to as ____________. customer third party first party second party
second party
Delta Company uses special equipment and personnel to changeover production runs quickly. The costs associated with this changeover approach are considered carrying costs. rapid stock costs. purchasing costs. setup costs.
setup costs.
ISO 9000 standards are based on the _______________ quality management principles.
seven
When price varies with the order size, the first step in the analysis process is to
sort the prices from lowest to highest and calculate the EOQ for each price level.
Design quality is considered a(n) __________ for the firm. strategic decision unimportant decision service decision insignificant cost
strategic decision
When placing an order for a single period, the order quantity should be increased as long as the probability of selling what is ordered is less than or equal to Co/Cu-Co the probability of selling what is ordered is greater than Cu/Cu+Co the probability of selling what is ordered is less than or equal to Cu/Cu+Co
the probability of selling what is ordered is less than or equal to Cu/Cu+Co
Which of the following is variation that is caused by factors that can be clearly identified? Assignable variation Common variation Random variation Normal variation
Assignable variation
Which of the following is the ratio of the range of values produced by a process divided by the range of values allowed by the design specification? Control limit Capability index Tolerance Specification limit
Capability index
Which of the following is variation that is inherent in the process itself? Assignable variation Common variation Controlled variation Real variation
Common variation
Which quality term refers to the degree to which the product or service design specifications are met? Dimension Engineering Conformance Design
Conformance
_____ inventory includes items in-transit or at a warehouse ready for shipment to the customer.
Distribution
Which tool in Six Sigma projects is a structured approach to identify, estimate, prioritize, and evaluate risk of possible failures at each stage of a process? Cause-and-effect diagrams Design of experiments Failure mode and effect analysis Opportunity flow diagrams
Failure mode and effect analysis
To achieve quality at the source, in general, who is responsible for ensuring that quality specifications are met? The supplier of the raw materials The person who does the work The customer is responsible for ensuring quality Customer service representative
The person who does the work
Process limits relate to how consistent the process is for making a product. the design of a part. the number of trade-offs involved in determining the upper and lower specification limits. how consistent the process is with 100% inspection.
how consistent the process is for making a product.
For a process to be considered six sigma capable, the design specification limits are _______________ standard deviations away from the process mean.
six
Since it is not easy to determine how well a sampling plan discriminates between good and bad quality, you should always examine __________ before using a sampling plan. the P-chart an R-chart the C-chart the OC curve
the OC curve
When choosing how often to take samples, there is a trade-off between the costs of sampling and the number of employees in the quality department. the readings from the last set of samples. the amount of time it takes to get the sample. the benefit of adjusting the system.
the benefit of adjusting the system.
ISO 14000 has a three-pronged approach that includes Multiple select question. the development of environmentally friendly products and services. environmental management requirements. standards for monitoring air, water, and soil. the cheapest cost for raw materials among all suppliers.
the development of environmentally friendly products and services. environmental management requirements. standards for monitoring air, water, and soil.
A purist view of the cost of quality is one that references all costs until 100% perfection is attained. A less stringent viewpoint is defined as the difference between 100% perfection and the industry standard. the difference between expected excellent performance and the current costs. whatever it takes to reach 100% perfection. not attainable in today's society.
the difference between expected excellent performance and the current costs.
