Mass Production

Assembly Plant
A facility where a production line is located and where products are assembled using systematic stages of production. This plant is fundamental in manufacturing industries, especially for large-scale production.
Industrial Revolution
The Industrial Revolution marks a significant period of transformation characterized by the introduction of mass production, improved transportation, technological advancements, and the industrial factory system. In the United States, this era is generally considered to have begun around the time of the Civil War (1861-1865).
Manufacture
Manufacture refers to the process of making or fashioning products, often in large quantities, using hands or machinery. This term is commonly associated with industrial production, where raw materials are transformed into finished goods.
Mass Customization
Mass customization refers to the methods used to produce customized goods and services on a large scale. Combining elements of mass production with individualized customization, it's a key strategy in contemporary business that enhances customer satisfaction while maintaining cost efficiency.
Mass Production
Mass production refers to the manufacturing or processing of uniform products in large quantities using interchangeable parts and machinery. It can be either a wholly automated process or a series of short, repetitive procedures.
Repetitive Manufacturing
Repetitive manufacturing is a method of production where the same products are continually and repetitiously manufactured. This method is ideal for mass production and supports hard manufacturing with significant fixed cost investments. Products such as appliances and automobiles are typically produced this way.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.