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Globalization; International Manufacturing, Outsourcing and Logistics - Essay Example

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Summary
Multi national companies (MNC’s) and small and medium Enterprises (SME’s) focus more on core competency levels (Yu & Hu, 2006)
The need for development of industrial…
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Globalization; International Manufacturing, Outsourcing and Logistics
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Globalization; International Manufacturing, Outsourcing and Logistics

Download file to see previous pages... Domestic manufacturing companies are facing numerous confrontations; they are finding it hard to survive in the existing market and are seeking manufacturing strategies for competing in the global market. (International Manufacturing strategy)
International Marketing Strategy Survey (IMSS) set up in 1992 is a cooperative network of more than 600 manufacturing companies and 20 business schools that provides a database for the study of management strategies, direct information on trends on manufacturing market and practices on a global scale. IMSS aims at identifying the manufacturing management strategies and collectively achieve the strategic objective. (WheelWright & Hayes,1975) This also helps the companies to make a comparative analysis using the international benchmarks. IMSS encourages communication and interaction between different companies and management schools which helps in sharing best practices. (What is the IMSS?)
Every country and state has different manufacturing regulations, economic factors, historical position, market size, product manufactured and strategies are tailored accordingly. (Per & Christopher, 1998)
Before creating a strategy, understanding the practice and performance of the manufacturing company is essential. Managers need to make decisions on the investments, organization form, system to be used, technological factors, location and product factors. In order to understand and study the various issues in the manufacturing industry and help companies in making good decisions a research study was conducted by London Business School which aimed at investigating the industry’s practices, manufacturing strategies around the world which would help in making the best decisions.(Per & Christopher,1998)
Manufacturing strategy refers to exploiting some properties and using them as a competitive weapon. There are different factors that are critical for deciding the strategy of a manufacturing company. A ...Download file to see next pagesRead More
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