Question

Lean thinking can be defined as

a. The effective planning, organizing, and controlling of the many value-creating
activities of the firm
b. The integration of key business processes concerning the flow of materials from raw
material suppliers to the final customer
c. A philosophy that seeks to improve quality continuously to please customers, reduce
costs, and ultimately create competitive advantage for the firm
d. The planning, scheduling, and controlling of resources to meet the specific goals of a
project
e. An operating philosophy encompassing the objectives of high quality, fast response,
and low waste within the organization and between supply chain trading partners

Answer 1

Final Answer:

e. Lean thinking can be defined as an operating philosophy encompassing the objectives of high quality, fast response, and low waste within the organization and between supply chain trading partners.

Step-by-step explanation:

Lean thinking is a management philosophy derived mainly from the manufacturing sector, particularly the Toyota Production System. It emphasizes the efficient use of resources, elimination of waste, and continuous improvement to achieve high-quality outcomes, fast response times, and reduced costs.

Option e captures the essence of lean thinking by highlighting its objectives of high quality, fast response, and low waste, both within the organization and across the supply chain. This reflects the holistic approach of lean thinking in creating value for customers while minimizing waste and optimizing processes.