What is mix flexibility?
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.