Increased Competition and Supply Chain
In the past, price, product features and brand recognition were enough to differentiate many products in the marketplace. With the continued commoditization of products, companies now need better ways to distinguish themselves. Product innovation and brand equity no longer allow the manufacturer to command a higher price in the market. In order to continue to compete with that commoditized product, the firm made significant cost improvements with supply chain redesign and technology.
Read my previous post titled “What Is a Supply Chain?” to know what exactly a supply chain is.
Subscribe to the comments for this post