Define Mass Customization and Build-To-Order

question 105

Essay

Define mass customization and build-to-order.

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Definitions:

Cost Formula

An equation used to estimate costs, factoring in both fixed and variable components, typically for planning and budgeting purposes.

Vehicle Operating Cost

Refers to the expenses related to operating a vehicle, including fuel, maintenance, insurance, and depreciation.

Planning Budget

An estimate of the revenue and expenses over a specific period, used for setting financial goals and making strategic decisions.

Other Expenses

Costs not directly related to the core operations of the business, such as interest payments or loss from disposal of assets.