The approach to cost reduction that studies whether components can be redesigned or standardized or made by cheaper methods of production without adversely impacting product performance is termed as $\_\_\_\_\_\_\_\_.$

Group of answer choices

supplier added value effort $($SAVE$)$

supplier performance management $($SPM$)$

vendor managed inventories $($VMI$)$

product value analysis $($PVA$)$

maintenance, repair, and operating $($MRO