Discuss the difference in the following two philosophies: 1. Manufacture the product to meet specifications. 2....
Discuss the difference in the following two philosophies:
1. Manufacture the product to meet specifications.
2. Manufacture the product to the designed target value.
What are the advantages/disadvantages of each philosophy?
Homework Answers
1. The first statement suggests manufacturing a product according to the required quality. This may raise the price of the good.
Adv- the produced product would be a quality product.
Disadv- the produced product would not be affordable to all.
2. the second statement suggests manufacturing a product according to the quantity required. In other words we can say the manufacturers are manufacturing a product keeping in mind the target number of consumers.
Adv- the product would prove to be of Higher utility for a wider population.
Disadv- the product may compromise in its quality.
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Discuss the difference in the following two philosophies: 1. Manufacture the product to meet specifications. 2....
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