The fierce pace in manufacturing technologies in the recent times
accompanied with short product life-cycle, high time-to-market
pressure, vulnerable JIT and lean manufacturing strategies have
made it critical for manufacturing companies to adapt the proactive
corporate and management strategies as well as production
philosophies and processes. In the recent times, manufacturing
industry has experienced unprecedented changes related to
management perspectives, production and process technologies,
drastic changes in customer expectations, supplier attitudes,
competitive behavior besides demanding quality requirements due to
global competition. These changes have greatly influenced the
fundamental shift in the way organizations envision, manage and
conduct their business. This calls for making drastic changes in
the company's business environment to adapt to the rapidly changing
market situation for gaining significant strategic competitive
advantage. The world-class competitiveness at every level calls for
on-time delivery of the best quality product at the lowest possible
cost.
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