Title: operations and supply chain management?three major competitive dimensions (cost, quality, time)
Q: explain those points under each dimension (cost, quality, time)
Cost
• Offering product at a low price relative to competition
• Typically high volume products
• May invest in automation to reduce unit costs
• Can use lower skill labor
• Low cost does not mean low quality
Quality
• Quality is often subjective
• Quality is defined differently depending on who is defining it
• Superior features, high durability, & excellent customer service
• Meets design specifications
• Quality needs to address
Time
• Time/speed one of most important competition priorities
• First that can deliver often wins the race
• Time related issues involve
• Focused on shorter time between order placement and delivery
• Deliver product exactly when needed every time