What is​ reengineering?     A. Reengineering is the ratio of the quantity of output produced to the costs of all inputs used based on​ current-period prices.   B. Reengineering highlights the specific​ input-output relationships that contribute to cost leadership.   C. Reengineering assumes the partial productivity and total factor productivity measures work best together because the strengths of one offset the weaknesses of the other.   D. Reengineering is the fundamental rethinking and redesign of business processes to achieve improvements in critical measures of performance such as​ cost, quality,​ service, speed, and customer satisfaction.

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Lean Production

The word lean refers to the “slim “that is used in manufacturing for the systematic designing that focuses on minimizing the waste in the manufacturing or production with the constant productivity of the operation. Lean manufacturing was rooted from Toyota Production system a Japanese manufacturing company that works on the approach of minimizing the non-value-added activities and making the production lean.