The last decade has seen a vast increase in customer choice – but the next wave is about customization.
Mass customization describes the concept of producing single-batch, customized products at the same cost and speed of traditional volume manufacturing methods. While mass customization promises huge gains in efficiency and customer satisfaction, it also presents new challenges for product brands.
Profitable mass customization of products and services requires success in two areas, according to McKinsey: (1) identifying opportunities for customization that create value for the customer, and (2) achieving a manageable cost structure and level for the producer.
In the video below, Joe McBeth, Vice President of Global Supply Chain at Jabil, discusses the impact mass customization has on supply chains.