What describes a cost that generates little to no return on investment and can be eliminated without negatively affecting a process?

The term that describes a cost generating little to no return on investment and can be eliminated without negatively affecting a process is Non-Value Added (NVA) costs. These costs do not contribute to the value of a product or service from the perspective of the customer. Essentially, NVA costs can be seen as waste within a process. Identifying and reducing these costs enhances efficiency and productivity because they do not contribute to the overall value creation, meaning eliminating them would not harm the process's effectiveness.

On the other hand, overhead refers to the ongoing expenses related to operating a business that cannot be attributed directly to a product or service, but some overhead can be necessary for smooth operations. Fixed costs are expenses that remain constant regardless of the level of production or sales activity, thus they are not necessarily expendable. Operating expenses are the costs associated with the day-to-day functioning of a business, and while they can include NVA, they also encompass necessary costs essential for operation. NVA specifically targets those costs that can be removed without adverse effects on the overall process.