In the electronic manufacturing also the application of just in time manufacturing has resulted in significant benefits. This mainly because these companies used to operate with high work-in-process inventory levels and long lead times.
There are also several other important features which is essential to ensue a strategic plan. Achieve greater responsiveness from suppliers on price, frequency of delivery and so on, set-up-time reduction, right firs time production, a streamlined organisation, etc. are such features.
It is the combination of all this short term activities that makes up the strategic plan.
In the audio manufacturing industry new products are launched quite rapidly. It is not necessarily innovative products, but even product improvements from other manufactures must be considered as a treat. Asian producers have the last 10-15 years been leaders in the home stereo market , both in product innovation and in design. Hence they have obtained quite a goodwill in the market, get higher returns, and thereby they can afford improvements and new product developments.
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