Mass Customization
Executive Summary
In this essay, the author will explain impact of the mass customization in the world nowadays. Some relevance with economy keys also will be explained to show the importance of mass customization. The author will also provide value chain of mobile phone manufacturing regarding mass customization. Furthermore, the essay will include some perspective and challenges that faced by Mass Customization Company, and also the New Product Development Stage, using Apparel Industry as example.
Introduction
In business nowadays, the trend of manufacturing is shifting from mass production (MP) concept into mass customization (MC) concept. Mass production is an “old” concept practiced and popularized by Henry Ford that produces a large quantity of goods. With his famous quotation, “"A customer can have a car painted any colour that he wants - so long as it is black", that stated that the customer don’t have any bargaining power to specify their need and wants to producer.
However, the era currently is shifting; customer has more power to express their want and needs. With tight competition between each other, manufacturer cannot hope customer will come and choose their product. They are become more aware to produce such products or services that can satisfy each and every one of their customer. This term nowadays called as mass customization, which refer to concept of producing goods based on the need of every individual. With producing custom product that suits everyone, they can increase the satisfaction level of the customer. And also it’s important to make sure the gap price comparing with mass production goods are not really significant.
Question 1
Critically assess the relevance of mass customization for consumers and corporations with respect to living standards, E-Commerce, manufacturing techniques and as a competitive advantage.
* Living Standards
Application of Mass Customization (MC) in the world nowadays made our life become easier.
In this essay, the author will explain impact of the mass customization in the world nowadays. Some relevance with economy keys also will be explained to show the importance of mass customization. The author will also provide value chain of mobile phone manufacturing regarding mass customization. Furthermore, the essay will include some perspective and challenges that faced by Mass Customization Company, and also the New Product Development Stage, using Apparel Industry as example.
Introduction
In business nowadays, the trend of manufacturing is shifting from mass production (MP) concept into mass customization (MC) concept. Mass production is an “old” concept practiced and popularized by Henry Ford that produces a large quantity of goods. With his famous quotation, “"A customer can have a car painted any colour that he wants - so long as it is black", that stated that the customer don’t have any bargaining power to specify their need and wants to producer.
However, the era currently is shifting; customer has more power to express their want and needs. With tight competition between each other, manufacturer cannot hope customer will come and choose their product. They are become more aware to produce such products or services that can satisfy each and every one of their customer. This term nowadays called as mass customization, which refer to concept of producing goods based on the need of every individual. With producing custom product that suits everyone, they can increase the satisfaction level of the customer. And also it’s important to make sure the gap price comparing with mass production goods are not really significant.
Question 1
Critically assess the relevance of mass customization for consumers and corporations with respect to living standards, E-Commerce, manufacturing techniques and as a competitive advantage.
* Living Standards
Application of Mass Customization (MC) in the world nowadays made our life become easier.
References: * Journal Online Cox, M., and ALM, R., (1998) The right stuff: America’s move to mass customization, 1998 Annual Report of the Federal Reserve Bank Of Dallas, pp