p.s i do not intend to endorse Adidas here, ok.
Despite the slow start of the day, the finishing is much more better.
I learn about the term competitive advantage today - customer requirements versus competitive qualities
the more competitive qualities we have to meet customer requirements, the more competitive advantage we have to stay ahead of the competition in this global market.
I also manage to have a better understanding on the importance of Inventory Management today.
I.e. from attaining the source of raw material to the production of the final product.
There is so much to learn!
My understanding is this:
Product performance and features (Customer requirement)
When the idea that automobiles come equipped with airbags to increase safety was suggested, there was a great concern that it would push the automobile out of the reach of the average customer due to the cost of $1200 for each airbag. Today, airbags are touted as an important safety feature (value) and the cost of the airbags compared to other passenger restraints is very competitive (Vonderembse & white, 2004).
By building quality into products + Mass Customization (mass production at the minimal cost possible). That is how companies gain the competitive advantage when they are able to deliver products at higher quality (than others) at the most minimal of cost.
The question is HOW? Lesson for tomorrow. Sleepy liao. almost 2am
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