3. True/False Statements: Specify which statement is True or False in the table below. For those you specify as a false statement, very briefly explain why they are incorrect, and/or what change makes them a correct statement (15 points)
01. Theoretical Capacity of a resource or process can never be less
than the effective capacity of that resource or process
02. A significant gap between the effective capacity and the theoretical capacity of a resource indicates that the resource is well-utilized.
03. The time it takes from ordering a product online, to receiving it by the customer can be an internal or an external metric
04. The path with the highest number of steps in a process takes the longest time to finish, and is therefore a critical path in that process
05. Total inventory of a process is sum of all inventories existing within the boundaries of that process
06. When a process has various types of waste, many opportunities will likely exist for improving its throughput
07. The well-known approach to Lean Six Sigma problem solving has 8 steps, and its acronym is DOWNTIME

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The detailed answer for the above question is provided below 01 False Reason for the false Theoretical capacity is the maximum output of a resource or ... View the full answer