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 ?
While it seems logical that a program's technical standards reflect the essential functions of a staff radiographer because that is the end goal of these programs, technical standards should in fact relate to success in the educational program.
National and international efforts in developing records and information management (RIM) technical standards and best practices are significant.
The BRC Technical Standard is awarded on two levels -- Foundation Level and Higher Level -- achieved following an evaluation carried out by Inspection Bodies, who are subsequently accredited against a European standard.
The British Retail Consortium developed this technical standard for companies such as Cottage Delight who are supplying retailer branded food products.
Based in Holland, ISA specialises in offering a European-wide network of skilled, locally-based auditors that can audit in the local language, against internationally recognised standards such as BRC Technical Standard.
Amcor Flexibles Camvac based at Thetford, UK has gained certification under the BRC/OP technical Standard and Protocol for Companies Manufacturing and Supplying Food Packaging Materials for Retailer Branded products.
the Chester based manufacturer of flavours, essential oils and aroma chemicals, is pleased to announce that it has been awarded the "Higher Level" status in compliance with the Food Safety & Quality System requirements of the British Retail Consortium (BRC) Technical Standard. This follows a committed approach taken by the company over the last two years to completely overhaul its quality and safety standards.
In order to help retailers meet legal standards for own brand food, the British Retail Consortium developed a Technical Standard to form a common basis by which own brand suppliers will be certified.
Nicholl Food Packaging has become the first aluminium foil container manufacture in Europe to achieve certification against a new British Consortium and Institute of Packaging Technical Standard for food packaging materials.

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