Market globalization and fast-paced technological change have raised customer expectations, and companies can succeed or fail depending on their ability to deliver the right goods at the right price, at the right time, via the right distribution channels.

If getting it wrong can be costly, getting it right takes time. It means constantly evaluating every part of the production process to see where it can be made more efficient without a perceived drop in quality or sales. Henry Ford was the first industrialist to recognize the value of offering customers “more for less,” and made it his business to make improvements to his cars every ...

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