Mass Customization and Global Logistics :: Economics Business Custom Essays

kettle of fish Customisation is - the customisation and personalisation of merchandises and attends - for individual customers at a atomic pile proceedsprice.So, what does press customisation mean for manufacturers and retailers?Simply this, that theres money to be make and customer satisfactionto be achieved by allowing the subverter to customise his or her ownpurchases by choosing the size, colour and style from a predetermined,often extensive, tilt of options. The ultimate goal is tomanufacture on a mass scale, keep or mend the margins associatedwith mass production, and supply a final product that meets eachbuyers individual desires.Apparel captures a major(ip) share of mass-customised products, but theconcept stretches far beyond a single industry to furniture,automobiles, eyeglasses, aeronautics, Barbie dolls, computers and soon.For the manufacturer, mass customisation offers an advantage becauseit differentiates his product from that of his competitors. It enableshi m to charge a premium for allowing his customer the privilege tospecify the final details of his purchase. Moreover, it allows theconsumer to buy in emotionally to the purchase, thereby reducing therisk that he ordain return the product hes purchased forcing themanufacturer to restock or mark down, or even worse scrap, the item.Success in mass customisation is achieved by producing items quicklytherefore it is critical for the manufacturer to find slipway to reduceproduct development cycles whenever possible.In 2002. Fortune Magazine, and many former(a) worldwide publications,proclaim You will have it your way. Mass customisation has musterfull circle.Allow us to provide our definition of mass customisation. It is the prospect created by taking an otherwise standard product or serviceand modifying it to meet the unique requirements and choices of asingle individual. Mass customisation provides uniqueness and licenseof choice unblemished fit with multiple options fair, competit ive costsingle-piece production timeliness quick-to-market and, veryimportantly, the consumer is involved throughout the process.A compelling spirit of mass customisation is that it meets diverseobjectives. The customer desires uniqueness freedom of choiceperfect fit or form fair, competitive cost. The manufactures want todifferentiate from their competitors, to improve profit margins and toreduce risk and returns. Retailers want to sell products at highprofit margins, to provide product variety and choice for the customerand to downplay the inventory risk.Todays customer for mass customisation tends to address the desiresof more than affluent people, those, for example, who can afford acustom-built yacht, expensive fomite or a special item of clothing,but that situation is ever-changing fast. Tomorrows opportunity for masscustomisation will, in my view, be kinda literally everybody foreveryone whether rich or poor, the desire for choice and