Simplification means reducing the number of standard items a firm uses in its product design and carries in its inventory.

Name: Simplification means reducing the number of standard items a firm uses in its product design and carries in its inventory.
Brand: Quizplus
Rating: 4.7 (41 reviews)

Question

Quizplus · Accepted Answer

Simplification refers to reducing the variety of products or components in a firm's inventory or design, which can improve efficiency and reduce costs. It does not necessarily refer to reducing the number of items in general.

Simplification Means Reducing the Number of Standard Items a Firm