Asked by Ansley Bailey on Jun 01, 2024
Verified
If time is not managed efficiently by companies, costs relating to a build-up of inventories and the rate at which products are produced can get out of control.
Inventories
Items owned that are intended to be sold as part of normal operations, currently being manufactured for sale, or are materials or supplies meant for use in manufacturing or providing services.
Managed Efficiently
The state of being controlled or directed in a manner that maximizes productivity and minimizes waste or unnecessary effort.
- Recognize the concept of time management in cost control and production efficiency.
Verified Answer
ZK
Zybrea KnightJun 03, 2024
Final Answer :
True
Explanation :
If time is not managed effectively, it can lead to a build-up of inventories and a mismatch between the rate at which products are produced and demand, resulting in additional costs for the company.
Learning Objectives
- Recognize the concept of time management in cost control and production efficiency.