mass customization

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Mass Customization

A strategy in which a company attempts to market a product to a customer's individual wants and needs while still producing the products at high level. That is, mass customization combines features of custom service, where a company makes a product upon demand from the customer, and mass production, where a company makes a large number of products exactly the same and sells them to a large number of customers. A company engaging in mass customization may offer a basic package for a product and then allow a customer to add or subtract different features at his/her discretion.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

mass customization

the use of technology and sophisticated computing facilities to individualize mass produced (and therefore identical) products. For example, the manufacture of a pair of jeans specifically designed for an individual can be carried out using a mass production facility. The technique requires accurate measurements that are transmitted by Electronic Data Interchange to the manufacturing point. Cloth is cut by automatic cutting machinery, each piece is identifed by a bar code and the whole is then stitched together and forwarded to the customer. See MASS PRODUCTION.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
References in periodicals archive ?
Because of the XML framework, each CRID can tag various CRI features of each customer; however, these features contain multiple data types characterized by fuzziness, concealment, and similarity such that it is difficult to correctly identify the information for use in the process of product configuration. Thus, it is necessary to transform CRI into a structured model corresponding to the product family model to enable the information to be translated into product development for manufacturing.
In this paper, the integration of product configuration systems (also called configurators) and group technology is explored for mass customization environment.
Its technology handles insurance product configuration, policy management and quoting and underwriting, among other capabilities, according to its website.
The systems have been designed according to an innovative technical solution featuring a compact layout to comply with customers' space requirements, along with flexible product configuration for the various formats required.
The agreement was signed today at the Temenos Community Forum in Barcelona, where His Excellence Marwan Awad, CEO of Jordan Ahli Bank, said, "In addition to its leading solutions and innovative model bank approach, Temenos has shown a deep understanding of the Jordanian and Middle East markets' local requirements and how to fulfil these using its strong business and product configuration tools.
Epicor will help Sama Steel to consolidate and optimize their operations including product configuration, fabrication, project management, supply chain management, marketing, sales, financial and HR management across all of its manufacturing and service businesses.
The integrated suite brings together Accenture Claim Components and Accenture Duck Creek's policy software, including rating and product configuration components.
The company claims that the new product configuration offers higher efficiency and lower electricity costs.
The company said that its Product Picker allows users to add multiple products to a sales opportunity quickly, streamlining pricing and product configuration inside Salesforce CRM.
It was also reported that the technical team of the company is currently evaluating the product configuration and the commercial aspects of the proposal.

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