GMS 401 Lecture Notes - Lecture 2: Customer Experience, European Cooperation In Science And Technology

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Document Summary

Competitive advantage: system with unique advantage over competitors. Competing on differentiation: distinguishing offerings of an organization to add customer value. Broad product line (fits diff types of products) Competing on cost: low cost leadership: providing maximum customer value while lowering the cost. Examining each of 10 om strategic decisions to lower costs and maintain customer expectations. 10 decisions (were in first lecture): g and s design, quality management, process and capacity design, location strategy, layout strategy, hr and job design, supply chain management, inventory, mrp, and jit, scheduling, maintenance. Flexible performance: match market changes in design innovation/volumes. Timely product development/delivery: timeliness in design, production, delivery. Strategy: an approach, long-term plan that"ll set a new direction for an organization. Mission: the ending goal a company wants to achieve: where the organization, its products and markets are going now, what the organization will contribute to society, states the rationale for the organization"s existence.

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