A Cost Reduction Technique That Uses Information About All Value

question 38

Short Answer

A cost reduction technique that uses information about all value chain functions to satisfy customer needs while reducing costs

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Definitions:

Authority Figures

Individuals or entities recognized for holding positions of power and influence, often within organizations, societies, or specific fields, guiding or regulating behavior and decisions.

Social Forces

The societal influences that affect individuals' behaviors, attitudes, and actions within a community or society.

Conform

The act of matching attitudes, beliefs, and behaviors to what is considered normal or acceptable in society.

Pressures

Forces that influence or urge someone to act or behave in a certain way.