The document discusses three main types of production: job production, batch production, and mass or flow production. It also discusses product lifecycles and competitive advantages. Finally, it outlines several manufacturing strategies including flexible manufacturing, lean manufacturing, and service-based manufacturing. Determining the optimal manufacturing strategy requires developing one that leverages a company's strengths and caters to customer and market needs.

1. Some of the most important types of production are: (i) Job Production (ii) Batch production and (iii) Mass or flow
production!
JOB PRODUCTION- Special or non-standardized products are produced in accordance with the orders received
from the customers. As each product is non- standardized varying in size and nature, it requires separate job for
production.Job production involves intermittent(irregular) process as the work is carried as and when the order is
received. It consists ofbringing togetherof material, parts and components in order to assemble a single piece of
equipment or product.
EG:- Ship building, dam construction,bridge building, book printing
BATCH PRODUCTION - Batch production concern with repetitive production.It refers to the production and
quantity of goods known in advance.It is that form of production where identical products are produced in batches
on the basis of demand of customers or expected demand for products.Under batch systemof production the work
is divided into operations and one operation is done at a time. After completing the work on one operation it is
passed on to the second operation and so on till the product is completed.
EG:- bakeries, inks and paints,some chemical companies makes pills in batch.
MASS OR FLOW PRODUCTION- This method involves a continuous production ofstandardized products on a
large scale. Under this method, production remains continuous in anticipation(expectation) of future demand. There
is a continuous and progressive flow of production obtained by arranging the machines in a proper sequence of
operations.There will be one type of machine for each process and setups remain unchanges during long period,
production volume is usually high.
EG:- clothes, furniture appliances, automobiles, crockery.
PRODUCT LIFE CYCLE The product lifecycle, in a marketing context, is all the stages of a product's life span that
are related to its promotion and sales. Product life cycle (PLC) is the cycle through which every product goes
through from introduction to withdrawal or eventual demise (death).
1. In the introduction stage, the product is released to the market; pricing and branding decisions are made and
marketing begins.
2. In the growth stage, vendors work to increase brand recognition and market share.
3. In the maturity stage, market saturation has been achieved. The attempt is to maintain market share. Once sales
begin to decrease, extension strategies may be employed to try to keep the product in the maturity stage.
4. Otherwise, the product is in its decline stage and an exit strategy may be set in motion.

2. Competitive advantage -is the favorable position an organization seeks in order to be more profitable than its rivals.
To gain and maintain a competitive advantage,an organization must be able to demonstrate a greater comparative or
differential value than its competitors and convey that information to its desired target market.
For example, if a company advertises a product for a price that's lower than a similar product from a competitor, that
company is likely to have a competitive advantage.The same is true if the advertised product costs more, but offers
unique features that customers are willing to pay for.
MANUFACTURING STRATEOGY
Companies must develop a manufacturing strategy that stable their strengths and keep them competitive in their
market. Developing a manufacturing strategy that suits a company's strengths is essential not only to maintain the
supply chain to customers, but to ensure the company remains competitive within its market.
Flexible Manufacturing
Company that easily customizable to fit ever-changing market solutions. These systems stress the process' ability to
make modifications to their product quickly and adapt to changes in the volume of goods produced. Manufacturers
that employ this strategy attempt to remain competitive by allowing for small-run batches and the ability to cheaply
customize their products for clients to provide an advantage.
Lean Manufacturing
Lean manufacturing strategies, also known as just-in-time manufacturing, aims to make the manufacturing process
as efficient as possible by eliminating inventories and streamlining the manufacturing process to reduce wasted labor
and materials. Companies that employ this strategy must employ workers with multiple skill sets to assume different
roles as needed,and must develop a process that produces a high percentage of goods that passes quality control on
the first pass. By maximizing efficiency, companies who use lean manufacturing plan to reduce costs and make
themselves more competitive in the market.
Service Based Manufacturing

3. Often employed by companies with established customer bases or by those that sell goods with a low profit margin,
this strategy attempts to focus profitability not on the initial sale of a good, but on continued aftermarket purchases.
This strategy may focus on providing spare parts for goods with a long lifespan, or leasing big -ticket items for a
limited term and providing full service to the product during the course of the lease term. This strategy puts a
premium on producing profits not from sales of the item, but on aftermarket sales and service.
Determining Your Strategy
Developing a manufacturing strategy is a difficult proposition for any company. A manufacturing strategy should be
developed alongside a company's marketing and corporate philosophy, and should cater to the end needs of the
distributor. While the type of manufacturing a company produces -- single piece vs. multiple items, low volume vs.
high volume -- may impact a strategy, manufacturing needs and capabilities should also be considered. Just as there
are many business philosophies that may fit inside an industry, no single manufacturing strategy works best in any
situation.