Low volume manufacturing (LVM) refers to the production of a small quantity of products, typically ranging from a few hundred to a few thousand units per year, instead of mass-producing millions of products. This approach is often used for prototyping or for creating niche or specialized products that may not have a high demand.

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Low volume manufacturing can be useful for businesses that need to test a new product in the market, introduce a limited edition or custom product, or create a small batch of products for a specific customer or market. 

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Some common manufacturing methods used in low volume manufacturing include 3D printing, CNC machining, and vacuum forming.

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Each of these methods has its advantages and disadvantages, and the choice of method depends on various factors such as the desired quality, quantity, and cost of production.