Which of the following is a method of reducing cost by identifying parts in different products that are common and interchangeable?
A) Target costing.
B) Value chain analysis.
C) Concurrent engineering.
D) Group technology.
E) Theory of constraints.

Question

Quizplus · Accepted Answer

Group technology involves identifying and grouping similar parts or products together based on their characteristics and features. By doing so, it becomes possible to use common design and manufacturing processes, leading to reduced costs through economies of scale and reduced complexity.

Which of the Following Is a Method of Reducing Cost