If a company standardizes the components used in different models, what will likely happen?

Standardizing components used in different models allows for greater flexibility in production processes. When a company employs general-purpose equipment more frequently, it can adapt more easily to the production of various products without the need for specialized machines for each component or model. This adaptability often leads to increased efficiency, as the same equipment can be used across multiple product lines, reducing setup times and inventory requirements for specific parts.

Using standard components simplifies manufacturing processes as it allows for the same machinery to be utilized, leading to easier training for workers and streamlined operations. The result is often improved productivity and cost-effectiveness. In contrast, options like reducing the number of product options may limit customer choices, while waste reduction pertains to excess materials or defective products, which is a result of efficient processes but not directly tied to equipment use. Production runs may also not be directly reduced as standardization does not inherently lead to shorter production cycles; rather, it can lead to more consistent runs of various models.