Supplier assessment

Lean question of the day
Supplier assessment and feedback allows the organization to determine supplier performance in terms of quality and service. Which form of cost management is a quality related term that encompasses the physical aspects of a product, its desired performance, and its appropriateness of application?
 

1. Improved form, fit, and function.
2. Improved quality and use.
3. Administrative savings and heightened quality.
4. Easier use and improved capability.
    
   Answer: A – Improved form, fit, and function is a form of cost management term that encompasses the physical aspects of a product, its desired performance, and its appropriateness of application. The remaining answers do not define forms of cost management; improved quality and use, easier use and improved capability, and administrative savings and heightened quality.