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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.
SWOT Analysis is constituted with strengths, weaknesses, opportunities and threats. It is the analysis that to identify the internal and external factors relate to the organization
Scenario: You are a member of the Project Review team for CK Software Services. At the next meeting, the team will discuss the scheduling for the new automated teller machine (ATM)
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write a project charter for a bookshop management project
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