L3M2 Exam Dumps : Ethical Procurement and Supply

Explanation

Value engineering, like value analysis, but at the design stage, seeks to create at least as great an output, but with fewer components / inputs.

Explanation

Zero defects - a quality concept, recognising the significant cost of re-work - remedying problems created earlier in the process. It is therefore desirable to strive for 'zero defects', thus avoiding error correction, re-work, etc. An important idea within JIT, Lean, etc.

Explanation

Key performance indicator, designed to monitor a small number of critically-important aspects of supplier performance, indicated within a contract or a service level agreement as part of a contract.