how does mass customisation benefits shareholders

Mass Customization Advantages and Disadvantages - Latest Quality It helps with identity retention along with customization. According to Brenda French, a company needs to have a factory or a production unit in order to mass-customize. The advantage of the made-to-order approach is that it allows a much larger component of customization in the goods now it is possible to customize almost any part of the product. Better control over inventory management equals less waste, and long-term customer satisfaction contributes to less consumption. Companies that take a JIT approach to mass customization will need reliable suppliers and an inventory replenishment system that notifies them exactly when new materials need to be ordered. From start-ups to big brands, businesses are offering personalized product options to extend their product lines and increase sales. Finally, the inventory management considerations and customer satisfaction lead to a more sustainable business approach, both environmentally and in terms of growth. Choose cover letter template and write your cover letter. These cookies ensure basic functionalities and security features of the website, anonymously. The primary benefit of mass customization is a better profit margin. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. More unique than standard items - provides reasons for customers to choose your offering Product Customization: What It Is and Benefits | Indeed.com The available technologies make it easy to create the products architectural aspects rather than repeatedly adjust its components. 2. Another challenge associated with mass customization is how to handle returns. Businesses that follow the approach of adaptive customization offer one standard product to the customers along with a few customization options. Mass customization remains superficial as the vast majority of the production chain remains unchanged: only a few elements are really customizable. The development of sub-processes helps transform the various customer requirements into generic product architecture from which several customized products can be derived. Login form The company extracts hundreds of data points to produce a 3-D image of each foot and then prints footwear fitting that customer. First and foremost, as you apply the concept of mass customization to the designing process, as an entrepreneur you will have a remarkable amount of creativity to deal with. Competitors will have to adapt to Mass Customization. I want to start providing 401(k)s to my employees. The standard packages of Planters only included small, medium, and large sized cans in the past. By using a just-in-time fulfillment strategy, your business can minimize overhead costs by reducing inventory storage and management. Working with a specialist or consultant to reorganize and execute these changes can help mitigate frustrations and ensure a smooth transition into mass customization.

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