Sloanism, also known as “flexible mass production,” refers to the modification of Fordism implemented by Alfred P. Sloan, president of General Motors from 1923, when he offered new models each year, and different makes, models, and prices for different niches in the market. Rather than relying on special-purpose machine tools designed to produce the parts for a single model, as Ford did with the Model T, GM used general-purpose machine tools that could be modified to produce slightly different parts for slightly different models.