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Value Analysis Is a Systematic Effort to Reduce the Cost

question 104

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Value analysis is a systematic effort to reduce the cost or improve the performance of products or services.


Definitions:

Fill Orders

The process of completing a customer's purchase order by preparing and dispatching the ordered goods.

Delivery Cycle Time

The total time taken from receiving an order to delivering the product to the customer.

Fill Orders

The process of completing customer orders for goods or services.

Manufacturing Cycle Efficiency

a measure of the efficiency of the production process, typically calculated as the ratio of value-added time (the time spent actually transforming the product) to total cycle time.

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