Organizations participate in a wide range of activities and employ a wide range of tools in their everyday

operations. Internal auditors must not only have a broad awareness of these procedures, but also
comprehend how risk and opportunity influence these tools and activities. The list and explanation of
business practices that follows is intended to give you a general knowledge of the notion, its
implications for internal auditors, and where risk and opportunity reside.

Assemble as needed. This is a form of production method in which the material is prepared in advance
of the customer's request so that it may be built fast. It is usually configurable to some extent. The
pieces are manufactured in general, but they will not be assembled until the order is received. This
strategy is a hybrid of two other popular production methods: make to stock (MTS) and make to order
(MO) (MTO). Products are manufactured in advance in MTS, whereas products are manufactured when
the order is received in MTO. By combining the two tactics, businesses may quickly deliver products to
customers while retaining some customization flexibility, allowing customers to receive products
tailored to their specific needs.

Companies can sell a wide range of items using common parts in this scenario.

They sell customized items and retain inventory for common parts. Because the corporation doesn't
have to foresee every final product that a client might want, it can keep fewer things in stock and store
them in less space. Another advantage is that the company can lessen the risk of errors by presenting
customers with a list of several ways to assemble the product.

As a result, after the client order is received, components are built to stock and then assembled to
order.

While the notion is most commonly linked with manufacturing, such as computer systems, industrial
equipment, and automobiles, it can also be used to other settings, such as services, such as corporate
training.