1. Discuss the requirements from an operations perspective of competing on (a) quality, (b) cost, (c) flexibility: variety, customization and volume flexibility, (d) speed. Give examples of manufacturing or service firms that successfully compete on each of the criteria listed. 2. Problems 1-6 and 1-9 on Page 29 (e-book: Page 47) (Hint:1.6: Output includes finished goods and work-in-process.)
1) When competing in a market there are multiple strategies you can use to establish your service or product. The strategy you choose will ultimately decide everything about your product aside from market you are in. Major strategy choices that must be made are based upon important competitive principals. These principals are Quality, Cost, Flexibility, and Speed. Quality is always important people rarely want a low quality product or service so when strategizing you always want to keep quality as high as you can. The quality of your product or service will heavily rely upon some of the other principals. Cost is probably the most important principal it dictates the other principals the most because to improve on the others always has a direct impact on the Cost. Flexibility is something that is extremely important in some industries. People always like having options when purchasing a product or service. Flexibility allows customization, variety, and volume flexibility. Finally we have speed. Speed is important because no one likes to wait for a product or service so the faster it gets produced and or delivered to the customer the more the customer will appreciate the product. For services speed is important when it comes to how long after the service was ordered that it was performed. Some companies that utilize these qualities and continue to perform are as follows
Amazon: 2 day shipping for customers
Google: almost instant search results
Apple: top of the line products
Mercedes: High quality...
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