JIT, TQM, ABM, and TOC all make a contribution to continuous improvement and are applicable in service businesses as well as in manufacturing and retail businesses.

Question

Quizplus · Accepted Answer

JIT (Just In Time) focuses on reducing waste and inventory, TQM (Total Quality Management) aims to improve quality and customer satisfaction, ABM (Activity Based Management) focuses on identifying and managing costs of activities, and TOC (Theory of Constraints) aims to identify and improve constraints to improve efficiency. All of these concepts are applicable in service, manufacturing, and retail businesses for continuous improvement.

JIT, TQM, ABM, and TOC All Make a Contribution to Continuous