Managing Your Costs and Keeping Them Down Requires Being

question 117

Multiple Choice

Managing your costs and keeping them down requires being

• A)effective.
• B)fast.
• C)mindful of high service requirements.
• D)efficient.
• E)collaborative.

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Definitions:

Variable Costs

Costs that vary directly with the level of production or service activity, such as materials and labor.

Repetitive Focus

A strategy in manufacturing that emphasizes the repeated production of the same products or a narrow range of products efficiently.

Modules

Parts or components of a product previously prepared, often in a continuous process.

Standardized Product

A product that is manufactured in a consistent, unchanged manner to ensure it meets specified criteria and quality.