What is the practice of keeping a product generic as long as possible before customizing?
A) postponement
B) keiretsu
C) vendor-managed inventory
D) forward integration
E) backward integration

Question

Quizplus · Accepted Answer

The practice being described is postponement, which involves delaying customization and keeping a product as generic as possible until it is closer to the point of consumption or sale. This can help minimize the risk of excess inventory and reduce costs associated with customization. Keiretsu involves a network of businesses with interlocking relationships, vendor-managed inventory involves suppliers managing inventory levels for their customers, and forward and backward integration involve expanding into new stages of the supply chain either forward (towards customers) or backward (towards suppliers). These practices are not directly related to the strategy of postponement.

What Is the Practice of Keeping a Product Generic as Long