Division of Labor: This is when tasks are divided among individuals or groups based on their skills or specialization. It increases efficiency as people focus on what they do best rather than trying to do everything.
Assembly Line: An industrial production method where products move along a conveyor belt while workers perform specific tasks at each station. This process streamlines production and improves efficiency.
Just-in-Time (JIT) Inventory System: A management strategy where goods are produced or delivered only when needed for immediate use. It reduces inventory costs and improves overall operational efficiency.