Managing for Speed To Avoid Product Obsolescence: A Survey of Techniques

Abstract

Competition among product manufacturers is intensifying in many industries. The nature of this competition forces firms to manage the product supply process for speed to avoid product obsolescence and decreased competitiveness. Rene Cordero describes a number of time-saving techniques and develops a framework for managing the product supply process for speed: making speed a central objective of the firm, selecting faster product strategies, managing for the speedy implementation of these product strategies, and managing human resources for speed. Although speeding the product supply process requires significant changes in the traditional management of product development, managing for speed can bring benefits such as faster response to market needs, reduced product cost, and increased product quality.