Which of the Following Statements Is True with Regard to the Product

question 23

Multiple Choice

Which of the following statements is true with regard to the product lifecycle management (PLM) ?

• A)PLM focuses on managing the engineering aspects of a product throughout its useful life.
• B)The decline stage is usually shorter than the growth stage in the PLM.
• C)The growth stage is usually shorter than the decline stage in the PLM.
• D)PLM is a manufacturing concept that refers to the decline phase of the product.

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Definitions:

Sourcing Processes

The methods and procedures used by businesses to identify, evaluate, and contract with suppliers of goods and services.

Supplier Performance Analysis

A method used to assess and measure the effectiveness and efficiency of a supplier's performance in terms of quality, delivery, and cost.

Portfolio of Suppliers

The diverse group of vendors and suppliers that a company utilizes to procure goods and services necessary for its operations.

Replenishment Lot Size

The quantity of stock ordered to replenish inventory, balancing order costs with storage costs.