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Production methods, ADVANTAGES, DISADVANTAGES, DISADVANTAGES, ADVANTAGES,…

- - - - A lot of leftover storage and inventory remaining at the end of the year
        Resources may be wasted
        labor may be less motivated as jobs are more repetitive
        time may be lost to repair defects or start and stop/reprogram machinery
      - Economies of scale can be reached
        Can charge higher prices as products are not completely standardized and can still meet customer needs
        increased output due to machinery working 24/7 and lower average costs
- - - - Allows employees to specialize in particular skills as each product is made by hand
        Products sold would be of high quality because the product has been specialized to meet specific demands
        Business would meet individual customer needs, allowing the mto charge higher prices and gain more profit
      - Cost of producing one unit is expensive as well as correcting mistakes mad ein production
        Since this method is labour intensive, it can be time consuming
        Materials and equipment needed may be expensive, especially if the amount needed is not known by the business
- - - - Machines can work 24/7, but still produce higher output, leading to low unit costs
        More likely to experience economies of scale especially as they are capital intensive
        Higher output due to increased efficiency
        Less need for training as the process relies majorly on machinery and less on skilled labour
      - Products may be too standardized and have low quality as the exact same product is being made in one process
        Capital intensive makes production inflexible as the business cannot stop or start production immediately
        mistakes are harder to fix and happen on a larger scale
        Tasks are unskilled and repetitive - making workers unmotivated, reducing efficiency
        Can be expensive - especially when considering both the costs of machinery as well as costs of mistakes