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What competitive advantages can a lean supply strategy confer on the manufacturing industry?
Wiki User
∙ 13y ago
- What competitive advantages can a lean supply strategy confer on the manufacturing industry? Explain in detail how these advantages are secured and maintained.
Wiki User
∙ 13y ago
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What is the lean sigma training?
Lean Six Sigma is a management strategy used to optimize a business decision-making and improve manufacturing processes. It can be trained at www.sigmapro.com, www.lean.org or www.6sigma.us.
Which documents are outputs of the initiating process group?
- Project Charter - Stakeholder management strategy - Stakeholder register
A technician is designing a hardware preventive maintenance plan for a company Which strategy should be included in the plan?
Schedule and document routine maintenance tasks.
Explain the matrix approach to product planning?
Explain the Matrix approach to product planning. Suggest a Marketing strategy on the basis of the product evaluation matrix.
What is the Scope of retention strategy?
The scope of the study is to understand the retention strategies of company.and how companyis following towards the strategies . By this study helps to find out factors contributed towards the retention strategies among the executives and managers. Measures taken by management against the attrition and also to suggest in order to reduce attrition
Advantages and disadvantages of competitive pricing strategy?
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What is strategic formulation?
Strategic formulation is the process of creating a strategy for a business. A strategy is a competitive position a business will take to compete in the industry.
What has the author Michelle Hauw written?
Michelle Hauw has written: 'Competitive strategy in the U.K. washroom services industry'
Advantages and disadvantages of strategy?
One advantage to having a business strategy is knowing what direction your company is headed. A disadvantage to having a business strategy is the fact that your strategy could be wrong for the industry.
What are the three tests that distinguish a winning strategy?
1. The Goodness of Fit Test : A good strategy has to be well matched to industry and competitive conditions, market opportunities and threats, and other aspects of the enterprise's external environment. At the same time, it has to be tailored to the company's resource strengths and weaknesses, competencies, and competitive capabilities. 2. The Competitive Advantage Test : A good strategy leads to sustainable competitive advantage. The bigger the competitive edge that a strategy helps build, the more powerful and effective it is. 3. The Performance Test : A good strategy boosts company performance. Two kinds of performance improvements are the most telling of a strategy's caliber: gains in profitability and gains in the company's competitive strength and long-term market position.
How can you link your HR strategy to competitive strategy of a business unit?
yes we can link to human strategy to competitive strategy because we can't do any thin except human
What has the author John Mcmahon written?
John Mcmahon has written: 'An investigation of industry scenarios and competitive strategy in the online information marketplace with specific reference to \\'
Why is it difficult for a company in one strategic group to change to a different strategic group?
When choosing a generic strategy for a business to follow, a company must look far into the future to see what the future of the market might be. A successful competitive advantage requires that a company make consistent product, market, and distinctive competency choices. After a company has chosen a strategy it can be very expensive to change their strategies. Generic competitive advantage strategies provide competitive advantages, but they are expensive to develop and maintain. For example, a simultaneous differentiation/cost-leadership strategy is the most expensive, because it requires that a company invest resources not only in functions such as R&D, sales, and marketing to develop distinctive competencies but also in functions such as manufacturing and materials management to find ways to reduce costs. In deciding on an investment strategy a company must evaluate the potential return from investing in a particular generic strategy. In this way it can determine whether pursuing a certain strategy is likely to be profitable and how profitability will change as competition within the industry changes. The industry life cycle also affects how strategies are chosen. Each stage of the life cycle has different implications for the investment of resources needed to gain a competitive advantage (Hill and Jones, 174). Tapasya Sharma Student of IMT
Discuss the IT concepts of competitive strategy?
A Competitive Strategy is decisions that generate action that produces results.A competitive strategy answers the following questions. How do we define our business today and how will we define it tomorrow? In what industries or markets will we compete? The intensity of competition in an industry determines its profit potential and competitive attractiveness. How will we respond to the competitive forces in these industries or markets (from suppliers, rivals, new entrants, substitute products, customers)? What will be our fundamental approach to attaining competitive advantage (low price, differentiation, niche)? What size or market position do we plan to achieve? What will be our focus and method for growth (sales or profit margins, internally or by acquisition)?
Who developed the manufacturing strategy paradigm?
The late 1970s and early 1980s saw the development of the manufacturing strategy paradigm by researchers at the Harvard Business School
When was the manufacturing strategy paradigm developed?
The late 1970s and early 1980s saw the development of the manufacturing strategy paradigm by researchers at the Harvard Business School
What are the competitive dimensions of operations strategy?
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