that conservative Christians/theologians would refer to as "non-inspirational" based

The popular term they will use is 'Liberal Scholarship'.

and would be rejected by them as not being faithful to the word of God.

Not necessarily. Thats a strange way of putting it but there may very well be truths in what we usually refer to as 'liberal scholars' findings.

These different approaches are coverd in a special discipline called
"Hermeneutics" dealing with the interpretation of Biblical scripture.

Well, I suppose they are now but 'Hermeneutics' is just a fancy way of saying interpreting the texts (often some kind of method) with so-called 'Liberal scholarship' being one big school of thought showing up somewhere around pre-Nazi Germany (1880s maybe?) but not necessarily limited to Austria and Germany either. (It was a big deal in Aberdeen for a while and other places too).

But you can say Liberal Scholars ALSO have or use 'hereneutics' sure. For example presuming supernatural things could not have happened then working from there.