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Total cost minimization

May 21, 2023

Description Total cost minimization is a top priority for all private sector engineers. Every new product designed should cost less to manufacture than the one it replaced (the prior art). Henry Ford was an American captain of industry and a business magnate, the founder of the Ford Motor Company, and the sponsor of the development of the assembly line technique of mass production. The focus of this essay is on the past and the current facets of engineering automobiles and other products designed for manufacturing that are built on an assembly line to minimizing the total cost of production.

#Total #cost #minimization

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