Product/service and volume flexibility, Project Management

Assignment Help:

Product/Service and Volume Flexibility

Ability to respond fast to the customer's needs known as flexibility.Two forms of flexibility are product/ Service and volume flexibility.Ability of the production system to change quickly from production of one product/ Service another is known as product/ Service flexibility whereas the ability to quickly increase or reduce the volume of products/Service produced is known as volume flexibility. Both forms of flexibility are determined when production processes are designed. For example when the firm business strategy calls for many custom designed products required in small volumes and to be introduced into the market in a short lead time, production processes must be designed to include general purpose machines and flexible workforce( versatile employees with multiple skills).

Volume flexibility is needed when the demand pattern is fluctuating and production processes must be designed with production capacities that can be quickly expanded without much expense.


Related Discussions:- Product/service and volume flexibility

Transaction cost theory could help the head of insurance, The Head of Insur...

The Head of Insurance at JKL Bank has been considering how to make efficiencies in the operation of the Car Insurance Business Unit. One option under consideration is to outsource

Reporting style, The Integrated Management Project is not intended to be an...

The Integrated Management Project is not intended to be an academic research report and the markers will not normally expect inclusion of a literature review or hypothesis testing.

Design of an accounting system, Discuss the considerations that management ...

Discuss the considerations that management should take into account in determining the design of an accounting system which will satisfy both (i) its own information requirement

Professional boundaries, An enrolled nurse has been assigned to care for a ...

An enrolled nurse has been assigned to care for a close relative who she cares for deeply who has been admitted to hospital with chest pain.  Nobody knows that this patient is rela

Explain the gantt charts in risk management, Explain the Gantt Charts in ri...

Explain the Gantt Charts in risk management. Gantt Charts: By Henry Gantt a time chart devised into 1917s, an American engineer. This chart is a horizontal bar chart ut

Define deterministic model of inventory control, Question 1: Define det...

Question 1: Define deterministic model of inventory control. Explain inventory costs and relationships Description of deterministic model of inventory control Invento

Strategies that a project manager implement to project risk, Explain TWO st...

Explain TWO strategies that a project manager might implement to address a project risk.   Risk avoidance - this strategy would be 'exiting the method that is giving rise to

Understand strategy of organisation by project manager, Why is it significa...

Why is it significant for project managers to understand the strategy of the organisation which uses their services? This enables the project to be considered in the context of

What is dummy activity in job operation of a project, What is dummy activit...

What is dummy activity in job operation of a project? Dummy Activity: All projects consist of a number of job operations or tasks that are termed as activities. An activi

Quality movement, QUESTION 1: (a) Explain how TWO of the given gurus h...

QUESTION 1: (a) Explain how TWO of the given gurus have contributed to the Quality Movement, highlighting the major points of their philosophies: (i) Edward Deming (ii)

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd