Rapid change:Time has become a major determinant of competitive advantage.
Time has become a major determinant of competitive advantage. The drive towards lean production systems has increased interdependency in supply chains. Any company that is complacent will be quickly overtaken. Ironically, the shorter the opportunity for success, the more important it becomes for companies to think strategically and for the long term. In so doing, the potential for minimizing the risks inherent in rapidly changing markets through supply chain partnerships is often an attractive option. The symptoms and challenges in respond- ing to rapid change are listed in Table 1.1.
Managers understand that, for a product or service to be commercially advantageous to the provider, value must be added faster than cost. The concept has been labelled ‘lean supply’ by purchasing
Case study insight