................ aims at eliminating superfluous varieties, sizes and dimensions while...............implies devising new varieties instead of the existing ones.

Simplification, Standardisation

The correct answer is option 1- Simplification, Standardisation.

Simplification aims at eliminating superfluous varieties, sizes and dimensions while standardisation implies devising new varieties instead of the existing ones.

Standardisation of work & Simplification of work- Standardisation refers to the process of setting standards for every business activity; it can be standardisation of process, raw material, time, product, machinery, methods or working conditions. These standards are the benchmarks, which must be adhered to during production. The objectives of standardisation are: (i) To reduce a given line or product to fixed types, sizes and characteristics. (ii) To establish interchange ability of manufactured parts and products. (iii) To establish standards of excellence and quality in materials. (iv) To establish standards of performance of men and machines. Simplification aims at eliminating superfluous varieties, sizes and dimensions while standardisation implies devising new varieties instead of the existing ones. Simplification aims at eliminating unnecessary diversity of products. It results in savings of cost of labour, machines and tools. It implies reduced inventories, fuller utilisation of equipment and increasing turnover