________ Is an Approach to Cost Reduction in Which Components

question 44

Multiple Choice

________ is an approach to cost reduction in which components are studied carefully to determine if they can be redesigned, standardized, or made by less costly methods of production.

• A) Proposal solicitation
• B) General needs description
• C) Order-routine specification
• D) Cost-benefit analysis
• E) Product value analysis

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Definitions:

Well Informed

Having or showing a broad knowledge of facts acquired through education or experience.

Do No Harm Principle

A guiding ethical imperative aimed at avoiding the infliction of harm or suffering on others.

Liberty

The state of being free within society from oppressive restrictions imposed by authority on one's way of life, behavior, or political views.

Restrict

To limit the scope, extent, or activity of something or someone.