Mass customization refers to a business process of providing customized goods and services that best meet individual customer’s needs. It reaps the benefits of flexibility, integration, and personalization to produce custom-made products with low unit costs at near mass production efficiency.
Mass customization is a business strategy that focuses on customers and recognizes the need to provide outstanding products while using new programs and procedures. The strategy makes it possible to design a product that reflects the actual choice of an individual customer through a flexible process. The components of a product are modular in some situations.
The flexibility that comes with mass customization enables the customer or retailer to mix and match the modules into different configurations and eventually realize a final custom-made product. Mass customization is more common in the retail industry but may also apply to other fields. For example, software creators can design products to allow remote services to increase functionality.
Another sector that embraces mass customization is the financial industry, which is characterized by the growth of independent and free-only companies. Mass customization attempts to give companies a competitive edge by providing unique value to their customers at lower costs associated with mass production.
Manufacturing firms make use of readily available information and efficient processes to facilitate the customization process. Mass customization attains its goals if the product is developed and tailored to the user requirements at a reduced cost.
The development of sub-processes helps to transform the various customer requirements into generic product architecture from which several customized products can be derived.