The geographical limitation of the market has expanded from focusing on local markets to focus on global markets. This has occurred due to the rapid development in communication, globalization and increased mobility of resources among countries. As a result countries focus on producing goods and services at a global scale rather than limiting themselves to geographical boundaries. * Just In Time Production
In past production was carried out in a mass production method where there were batches of goods produced and sold at mass scale generating economies of scale. In the modern operations management era batch production focus has shifted towards Just In Time production where goods and services are produced upon the receipt of order with customizations. It has reduced the inventory cost drastically. * Supply Chain Partnerships
In past the purchasing activities were carried out based on the lowest bid where organizations chose the supplier who provides the lowest bid for a particular order. This was more short term focused and quality and reliability was ignored. In modern days the low bid purchasing has shifted to supply chain partnerships where companies consider suppliers as a part of their value chain and build long lasting relationships with suppliers rather than focusing on short terms gains with low prices. * Product Development
In past the product life cycle was lengthy and when a product was introduced it stayed in the market for a long time. But with the rapid expansion of technology the product life cycle has become short where every product is replaced by a new product very fast. Due to this reason companies are not able to have lengthy...