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 ?
Army Training and Doctrine Command (TRADOC) Schools and CoEs develop and recommend draft or revised Standardized METL for Army units for which they are proponents.
Are standardized tests good at testing your actual knowledge?
In many programs, faculty express the wish to use multiple sources of information in their assessment efforts, including surveys of alumni, focus groups with alumni and other important stakeholders such as area employers, standardized testing where appropriate, etc.
In defense of standardized tests versus home-grown ones, Wynne says that IHEs usually think they have a staff adequately trained to create assessments.
The primary product offered by Gene Express is its StaRT-PCR patented, platform technology, providing standardized, quantitative, measurement of nucleic acid copy number, enabling multi-gene measurement of transcript abundance, and/or genomic DNA copy number.
If the goal is simply to sort, stratify, and rank, portfolios add little if you already have test data," says Monty Neill, executive director of Fair Test, a Massachusetts-based organization that opposes standardized testing.
We are committed to enabling customers to take advantage of the economic benefits of a standardized Windows-based data center.
In those plants, assembly areas will have the same footprint containing standardized modules built from a select group of common components.
The history of the denial of freedom and discriminatory applications of rights and privileges cultivate a Black Speak (and a Black consciousness) that delves for a "truth" beneath the surface of standardized, legitimized mainstream culture.
Students who fail standardized tests may be required to attend -- school.

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