The manufacturing of large quantities of standardized products, frequently utilizing assembly line technology. Mass production refers to the process of creating large numbers of similar products efficiently. Mass production is typically characterized by some type of mechanization, as with an assembly line, to achieve high volume, the detailed organization of materials flow, careful control of quality standards and division of labor.
Also called flow production, repetitive flow production, series production or serial production.
The demand for standardized, uniform products in large quantities originated in the needs of military organizations. Since then, precision machining equipment has led to the large-scale demand for mass produced products, created at a low cost and with a small work force. Henry Ford pioneered the moving assembly in 1913.The resulting manufacturing time for the product was so reduced that it stimulated Ford to apply the same method to chassis assembly. These methods greatly reduced the man-hours involved in automobile production, resulting in automobiles that were more affordable to the general public.
Investment dictionary. Academic. 2012.
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