The Approach to Cost Reduction That Studies Whether Components Can

question 146

Multiple Choice

The approach to cost reduction that studies whether components can be redesigned or standardized or made by cheaper methods of production without adversely impacting product performance is termed as ________.

• A) maintenance, repair, and operating (MRO)
• B) product value analysis (PVA)
• C) vendor managed inventories (VMI)
• D) supplier performance management (SPM)
• E) supplier added value effort (SAVE)

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Definitions:

Judgment Debt

The amount of money that a court has ordered one party to pay another party as a result of legal action.

Exempt Property

Assets that are protected by law from being seized by creditors or during bankruptcy proceedings.

Collateral

Assets pledged by a borrower to secure a loan or credit, which can be seized by the lender if the borrower fails to make payments.

Creditor

An individual or organization to whom money is owed by a debtor.