Which of the following best explains 'price/cost reduction'?
A) The continuous monitoring and evaluation of process and price increases as they are charged by suppliers.
B) The continuous monitoring and evaluation of activities initiated to reduce costs.
C) The continuous monitoring of quality of supplied orders.
D) The continuous monitoring of suppliers.

Question

Which of the following best explains 'price/cost reduction'? 
A) The continuous monitoring and evaluation of process and price increases as they are charged by suppliers. 
B) The continuous monitoring and evaluation of activities initiated to reduce costs. 
C) The continuous monitoring of quality of supplied orders. 
D) The continuous monitoring of suppliers.

Quizplus · Accepted Answer

Price/cost reduction refers to the process of evaluating and implementing activities that help to reduce costs. This includes the continuous monitoring of operations and processes to identify areas where cost savings can be made.

Which of the Following Best Explains 'Price/cost Reduction