What is mix flexibility?

mix flexibility. The ability to handle a wide range of products or variants by using equipment having short setup times. Forecast of the proportion of products that will be sold within a given product family, or the proportion of options offered within a product line.

Subsequently, one may also ask, what is volume flexibility?

Volume flexibility is defined as the ability of an organization to change volume levels in response to changing socio-economic conditions profitably and with minimal disruptions.

Also Know, what is supply chain flexibility? The supply chain flexibility is defined as the speed in which the supply chain responds to changes in demand and the business environment; this is in order to either create or preserve competitive advantage.

Similarly, what is product flexibility?

Product flexibility can be defined as the amount of responsiveness (or adaptability) for any future change in a product design, including new products and derivatives of existing products. A flexible design will reduce redesign costs and allow quicker response to customers with increased performance.

What is operational flexibility?

Using a theoretical framework, the operational flexibility is defined as an index which integrates both the mix and volume flexibility. Operative data and the associated costs are used to determine the optimal level of operational flexibility in the flow shop manufacturing system.

18 Related Question Answers Found

What is the ability of volume?

Volume is the amount of space taken up by an object, while capacity is the measure of an object's ability to hold a substance, like a solid, a liquid or a gas. Volume is measured in cubic units, while capacity can be measured in almost every other unit, including liters, gallons, pounds, etc.

What is flexibility software engineering?

Software flexibility can mean a lot of things but when it is used to describe a whole system, it normally refers to the ability for the solution to adapt to possible or future changes in its requirements. The key to building highly flexible systems is the loose coupling of its components.

What is meant by flexible manufacturing system?

A flexible manufacturing system (FMS) is a manufacturing system in which there is some amount of flexibility that allows the s to react in case of changes, whether predicted or unpredicted. This flexibility is generally considered to fall into two categories, which both contain numerous subcategories.

How do you achieve agility in supply chain?

Achieving Supply Chain Agility

Establishing Beneficial Partnerships. Finding supply chain partners can also improve agility and enhance visibility.
Utilizing Technology To Gain Visibility.
Collaboration is Key.

What is agile supply chain?

Combined, they define what an agile supply chain is: a system of product distribution that is concerned with doing things quickly, saving costs, being responsive to the market and consumer demands, maintaining flexibility, and keeping productivity at all-time highs. With agile supply chain, flexibility is key.

What are supply chain models?

The supply chain operations reference model (SCOR) is a management tool used to address, improve, and communicate supply chain management decisions within a company and with suppliers and customers of a company (1). The model describes the business processes required to satisfy a customer's demands.

Why Flexibility is important in producing goods and services?

Expansion flexibility of a manufacturing system is the ease with which its capacity and capability can be increased when needed (Sethi and Sethi, 1990). Expansion flexibility helps to reduce implementation time and cost for new products, variations of products, or added capacity.

What is agility in supply chain management?

Supply Chain Agility represents how fast a supply chain responds to the changes in environment, customer preferences, competitive forces etc. It is a measure of how companies adapt their supply chain to these changes and then how fast it is able to achieve it.

What is meant by supply chain management?

In commerce, supply chain management (SCM), the management of the flow of goods and services, involves the movement and storage of raw materials, of work-in-process inventory, and of finished goods from point of origin to point of consumption.

Why should the supply chains for products in new markets be flexible?

The supply chains for products in new markets must be flexible to respond to wide fluctuations in demand (both in quantity and product mix). These initiatives reduced variations and uncertainties in demand, thereby reducing the need for surge production capacities and large inventories.

What is flexibility operations management?

? Process flexibility is defined as the ability of a manufacturing system to produce aset of part types without major setups. ?Managers need to deal with several types of flexibility to plan the marketing and operations strategies to cope with cope with uncertainty associated with marketing and operations functions.

What are competitive dimensions?

Competitive dimensions • According to Porter, two competitive dimensions are the keys to business- level strategy. • The first dimension is a firm's source of competitive advantage. • The second dimension is firms' scope of operations.

What are the five key competitive priorities?

There are five common groups of competitive priorities namely cost, quality, time, flexibility and innovation. Finding the right competitive priorities does not happen overnight, many companies struggle for years when making decisions regarding different competitive priorities.

What are the four competitive priorities?

It should be noted that each of the four competitive priorities (quality, cost, flexibility and delivery) contributes to improving and sustaining the competitive advantage of a firm, since such priorities are all linked to its corporate and functional strategies.