Product Suite

Supply Chain Glossary - M

Supply Chain Glossary - M

Maslow's hierarchy of needs

A theory that human needs are arranged in an order, or hierarchy, of importance. The hierarchy includes physiological, safety, social, esteem, and self-actualization needs.

The creation of a high-volume product with large variety so that a customer may specify his or her exact model out of a large volume of possible end items while manufacturing cost is low because of the large volume. An example is a personal computer order in which the customer may specify processor speed, memory size, hard disk size and speed, removable storage device characteristics, and many other options when PCs are assembled on one line and at low cost.

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