2. What costs should be considered in determining the sales price of a product?
2. What is a just-in-time (JIT) inventory system? Name some inventory costs that can be eliminated or reduced by its use.
3. What are the two dimensions of a total quality management (TQM) program? Why is TQM being used in business practice?
4. What does the term reengineering mean? Name some reengineering practices.