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Product Differentiation Can Lead to High Market Share and Low

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Product differentiation can lead to high market share and low costs.


Definitions:

Assembly Line Operations

Production processes where products are assembled in a sequential manner along a conveyor belt or line.

Material Requirements Planning

An inventory management system that determines the quantity and timing of raw materials needed for production to meet demand while minimizing stock levels.

Time And Motion Studies

The analysis of work processes to increase efficiency by reducing wasted time and motion.

Interchangeable Parts

Components that are, for practical purposes, identical. They are made to specifications that ensure they are so nearly identical that they will fit into any device of the same type.

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