Mass Customization

question 67

Multiple Choice

Mass customization:

• A) limits a company's ability to customize products.
• B) reduces the use of individual machines and hinders quality control at all stages of the manufacturing process.
• C) increases the setup times for complex equipment.
• D) is the use of technology to produce large quantities of a standardized output.
• E) is a company's ability to reconcile low cost and differentiation that were once thought incompatible.

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Definitions:

Note Receivable

A financial asset representing a written promise to receive a specific amount of money from a debtor at a future date or on demand.

Bank Service Charge

Fees charged by banks for the use of their services, such as account maintenance and wire transfer fees.

Cash Short

A situation where the actual cash on hand is less than the expected amount, often detected through cash register or petty cash reconciliations.

Selling Expenses

Costs directly associated with the marketing and selling of products or services.