maintain product quality

How Can Companies Balance Cost and Quality?

Balancing cost and quality is a common challenge, but it can be managed through:
1. Lean Manufacturing: This methodology focuses on minimizing waste without compromising quality, thereby reducing costs.
2. Value Engineering: This involves analyzing the product design to find cost-effective alternatives that do not sacrifice quality.
3. Strategic Sourcing: Partnering with suppliers who offer the best value for money helps in maintaining quality while managing costs.

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