Question

15) keeping a product generic as long as possible before customizing is known as:__________

Answer 1

Postponement is the practice of keeping a product generic for as long as possible before modifying it.

By deferring current investment in a good or service until the very last minute, postponement is a business strategy that tries to maximize reward and reduce risk. A supply chain technique for quick adjustment to shifting market conditions is postponement. Lead times are lowered, working capital is cut and waste is eliminated. Postponement is a make-to-order strategy in contrast to conventional make-to-forecast methods, when things are quickly customized from stocks of nearly complete products, frequently close to customers. Modern enterprises employ postponement as a key supply chain management strategy in order to survive in the cutthroat business climate of today.

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