"Producing goods of predetermined specifications which helps in achieving uniformity and consistency in the output". This statement is related to:

Standardisation

The correct answer is Option (1) → Standardisation

Standardisation refers to producing goods of predetermined specifications, which helps in achieving uniformity and consistency in the output. Standardisation ensures the buyers that goods conform to the predetermined standards of quality, price and packaging and reduces the need for inspection, testing and evaluation of the products.