Process technology refers to the tools, systems, and methods used to produce goods or deliver services in an efficient and effective manner. In order to be successful, a process technology strategy should consider both volume and variety in order to meet the needs of the business.
Volume refers to the amount of goods or services produced or delivered over a given period of time. For example, a manufacturing company that produces a large volume of a single product may have a different process technology strategy than a company that produces a smaller volume of a variety of products.
Variety, on the other hand, refers to the range of products or services offered by a company. A company that offers a wide variety of products or services will require a different process technology strategy than a company that offers a more limited range of options.
In order to effectively balance volume and variety, a company must carefully consider its business objectives and the capabilities of its process technology. For example, a company that produces a high volume of a single product may invest in automation and other advanced manufacturing technologies in order to increase efficiency and reduce costs. On the other hand, a company that offers a wide variety of products may need to adopt a more flexible process technology strategy that allows for the rapid production of a range of different products.
Ultimately, the best process technology strategy will depend on the specific needs and goals of the business. By carefully considering both volume and variety, a company can develop a process technology strategy that enables it to produce goods or deliver services in the most efficient and effective way possible.