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This study investigates the use of "real options analysis" (ROA) to quantify the value of greater product flexibility at algal biofuel production facilities.
A complementary role is not observed for cost efficiency and new product flexibility.
In particular, volume, mix, and new product flexibility depends on machine, labor, and materials handling flexibility.
This chapter discusses three dimensions of flexibility for supply chain design: volume flexibility, mix flexibility, and new product flexibility.
Still others compete on the basis of product flexibility, their ability to handle difficult, nonstandard orders and to lead in new product introduction.
In summary, within most industries different companies emphasize one of these five competitive dimensions price, quality, dependability, product flexibility, and volume flexibility.
Similar(42)
Lifecycle is a new design thought for shortening the time of development and production of a product, thus improving production flexibility.
Using data from 273 manufacturing firms, this research tests mediating, moderating, and additive models that relate product concept flexibility, product prototype flexibility, and customer satisfaction.
The results indicate that firms with high product concept flexibility are more likely to benefit from prototype flexibility than firms with low product concept flexibility, and that product concept flexibility and product prototype flexibility act independently and additively to predict customer satisfaction.
While manufacturing postponement and ordering postponement are supported by supplier volume and mix flexibilities, design postponement is only related with product modification flexibility.
Product concept flexibility (i.e., developing design options) and product prototype flexibility (i.e., creating working models) emerge as effective ways to quickly develop new products that meet competitive challenges and satisfy customer demands.
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