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 ?
Standardization (2017) is "formulation, publication, and implementation of guidelines, rules, and specifications for common and repeated use, aimed at achieving optimum degree of order or uniformity in a given context, discipline or field." Koenig and Bozic (2015) shared an exemplar of standardizing perioperative and operative processes to improve cancellation rate and surgical start time.
The Sumgait Chemical Industrial Park was created in Azerbaijan, where the country conducts cooperation with Turkish partners on standardization of products, he said.
More sustained work exploring the implementation (and resistance to) standardization and customization policies across a range of healthcare settings would be a fruitful avenue for future research.
Wang li Deputy Director General Department of Industry Standardization Administration China said China hoped that we are working all together with one road one belt the groundwork will be laid and a road map drawn up for future standardization initiatives with the involvement of the key stakeholders.
In my experience leading standardization efforts for more than a decade, 80 percent to 90 percent standardization seems like a more realistic goal, depending on the situation.
He said we are targeted in steel, environment, and other standards work together and to harmonize, International standardization can be a powerful tool for strengthening accessibility in all these areas by setting the same standards around the world for accessible products, devices, services, environments and facilities.
In his opening speech, the Minister of Environment noted the attention to standardization work done by GCC officials, which confirms the will and determination to promote standards and quality.
The Standardization Roadmap looks at a variety of subjects including energy and water performance standards, system integration, energy ratings, workforce credentialing, and evaluation, measurement, and verification.
Chairman of the Technical Regulation and Metrology Committee Birzhan Kaneshev expressed confidence that cooperation with CEN and CENELEC will help the EU and Kazakhstan harmonize legislation in the sphere of technical regulation and standardization.
Multivariate analysis is used to examine the antecedents of international marketing program standardization strategy as well as the interdependence between the four elements of the marketing-mix.
UNDP project "Employment and secure energy supply for the use of biomass in Bosnia and Herzegovina" and the Institute for Standardization of Bosnia has made a significant contribution to the establishment of the legal framework in the field of biomass heating.After the translation process and after public debate standards (related to solid biofuels - EN 14961) are adopted by the Technical Committee of Institute for Standardization of Bosnia and Herzegovina - Mining Section, were published in the Official Gazette of Institute for Standardization of Bosnia and Herzegovina as well as on the website of the Institute and came into effect.
Rashid Ahmed bin Fahad, Minister of Environment and Water, Chairman Emirates Authority for Standardization and Metrology has stressed UAE's keenness and its ongoing quest to facilitate the movement of trade between different countries of the world.

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