Examlex
Martin is a member of an online buyers' club that reinforces purchasing behaviour by giving him prizes that increase as he increases his purchases. This is known as a form of:
Reengineering
The process of redesigning business processes and workflows to achieve significant improvements in critical aspects like productivity, cycle times, and quality.
Technology
The use of scientific insights for practical applications, chiefly in the realm of industry.
Total Quality Management
A management approach focused on continuous improvement of processes, products, and services, involving all members of an organization.
Economic Order Quantity
A formula used in inventory management to determine the optimal order size that minimizes the total costs of holding and ordering stock.
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