flexibility, speed of response and dependability 0.0 / 5 ? Business StudiesflexibilityA2/A-levelAll boards Created by: helena99777Created on: 17-09-20 09:30 Product flexibility switching from one product to another 1 of 17 Volume flexibility changing the output level to meet changes in demand 2 of 17 Delivery flexibility changing the time and volume of customers deliveries 3 of 17 Mass customisation offering individually tailored goods and services to customers eg nike allowing people to customise their own shoes 4 of 17 Collaborative customisation the needs of the customer are understood and followed as part of the manufacturing process 5 of 17 Adaptive customisation customers want the product to perform in different ways on different occasions. technology allows them to customise their product on their own. 6 of 17 Transparent customisation customers specific needs are predictable or can be guessed easily 7 of 17 Cosmetic customisation customers use a product the same way and differ in only how they want it presented, the packaging changes for different customers. 8 of 17 Factors needed for mass customisation a market where customers value variety and individuality - they have to be willing to pay premium prices, quick responsiveness to market changes 9 of 17 Advantages of mass customisation cost reductions, higher revenue, greater customer loyalty, competitive advantage 10 of 17 Disadvantages of mass customisation needs expensive technology, greater expenses in terms of machinery and training etc, problems with rejected products 11 of 17 How to improve speed of response and dependability effective up to date technology system, flexible workforce, close relationships with suppliers. 12 of 17 What influences the choice of suppliers? prices, payment terms eg trade credit?, quality, reliability - does it arrive on time?, flexibility - can they respond to changes in demand? 13 of 17 What can effective supply chain management lead to? lower costs, higher quality, greater speed of response 14 of 17 Traditional viking approach - supply chain management 'volume is king' - buying resources in large amounts to benefit from economies of scale 15 of 17 Modern approach - supply chain management buying smaller amounts from a wider range of suppliers, creates competition in the chain which causes prices to fall 16 of 17 Porters value chain and suppliers gives a cost advantage and diferentiation 17 of 17
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