Strategies Aimed at Reducing the Total Time It Takes to Deliver

question 108

Multiple Choice

Strategies aimed at reducing the total time it takes to deliver a product or service are called

• A) Logistics management.
• B) Mass customization.
• C) Continuous process.
• D) Time-based competition.
• E) Lean manufacturing.

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Definitions:

Loss Leader

A pricing strategy where a product is sold at a loss to attract customers, hoping they will make additional purchases at profitable prices.

Notice in Writing

A formal communication or document that is recorded in written form, often required for legal or official purposes.

Subcontracts

Contracts undertaken by a contractor who signs an additional contract with another party to perform part of their contractual obligation.

Privity of Contract

A principle in contract law which holds that only parties to a contract have the right to enforce or challenge it.