Advantage is about being positioned to respond successfully to change. Over the past couple of years, manufacturers serving high technology markets have had to keep a focus on cost reduction to meet price pressure in a demand constrained environment. To reduce costs, these businesses have tended to focus on improving capabilities to minimize their raw and work in process inventory. Techniques such as auction based purchasing, outsourcing of commodity raw materials and use of vendor managed inventory have helped to reduce the cost of purchased materials and time of ownership.
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