In which approach to cost reduction are components studied to determine if they can be redesigned or standardized or made by cheaper methods of production?
A) e-procurement
B) product-value analysis
C) strategic alliances
D) buygrid framework
E) problem recognition

Question

Quizplus · Accepted Answer

Product-value analysis involves examining the components of a product to identify opportunities to reduce costs. This can involve redesigning components to make them cheaper, standardizing components to reduce production costs, or using alternative methods of production that are cheaper. This approach is focused on minimizing costs while maintaining or improving the value of the product, making it an effective approach to cost reduction.

In Which Approach to Cost Reduction Are Components Studied to Determine