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In the accompanying figure, the color next to Box 2 indicates the _____.
Common Components
Common Components refer to parts or materials used in the manufacturing of multiple product models or lines, helping to streamline production and reduce costs.
Component Commonality
The use of the same parts or materials in multiple products or systems to reduce inventory and increase efficiency.
Aggregation
the process of combining multiple elements, data, or inputs into a summarized or unified whole, often used in the context of data analysis or planning.
Periodic Review Policies
Inventory management techniques that involve reviewing and adjusting inventory levels at fixed intervals to ensure adequate supply.
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