standardization


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standardization

  1. the limitation of a firm's product and component range as a means of controlling production and marketing costs. By limiting the PRODUCT RANGE a firm can mass-produce each product and achieve ECONOMIES OF SCALE through long production runs, but forgoes potential sales by serving only a limited number of market segments. However it may be possible to cut production costs while maintaining product VARIETY through standardization and interchangeability of components. Standardization serves to reduce the variety of finished product stocks or materials and component stocks held, simplifying purchasing and STOCK CONTROL. Compare CUSTOMIZATION.
  2. see ORGANIZATION.

standardization

the limitation of a firm's product range as a means of achieving low-cost production and marketing. By restricting its product range, a firm may be able to mass-produce each product and secure ECONOMIES OF SCALE through long production runs. In reducing its product range, however, the firm may forgo greater sales and profit potential by limiting the number of MARKET SEGMENTS its products are sold in. Thus, as part of their PRODUCT DIFFERENTIATION policies, firms often need to ‘trade off cost and VARIETY considerations.
References in periodicals archive ?
In addition, they should be allowed to voice their concerns on how fast the standardization efforts should proceed.
He also thanked all the employees of the national standardization bodies in GCC countries for their efforts, and wished for the forum participants getting the maximum benefit from its activities, QNA reported.
In the analysis process, the selection and ordering of the standards elaboration themes are performed, which will facilitate the process of composing the standardization programs.
Without the combination of management support and a designated person in charge of standardization, the project is unlikely to succeed.
NATO and other International Standardization Agreements
Intrinsic standardization involves 'streamlining' the internal environment--activities that enable internal systems and processes to work better with one another.
At the same time, executives should contemplate strategies to reduce spending on expensive products and increase opportunities for standardization by putting controls in place for the purchase of such products.
Not right now," says Brown, who adds, "But there are elements of standardization that have gotten us a lot closer in the last few years.
Clark: Cy-Fair opened just this fall, so we could get everything new and start with standardization as a key strategy.
Standardization poses many complex challenges, however.
Instead of limiting the perspective to the process and outcomes of standardization, the book focuses on standards and standardization as a coordination mechanism and a regulatory instrument, and compares their characteristics with other mechanisms and instruments such as directives (i.
This paper starts with a brief background to worldwide standardization activities in the field of educational technologies, and identifies three important accredited standardization organizations in the domain of education and training: the Institute of Electrical and Electronics Engineers (IEEE) Learning Technology Standardization Committee (LTSC), the European Committee for Standardization, Information Society Standardization System (CEN ISSS) Learning Technologies Workshop (LTWS), and the ISO/IEC (International Organization for Standardization / International Electrotechnical Commission) JTC1 Joint Technical Committee.

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