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World Class Manufacturing Section 1 'World class' means being the best in your field in the world. 'Best' can be in term of: * The ability to keep introducing innovative designs more quickly than your competitors. * Least manufacturing cost (so that you can undercut your competitors on price or spend more than they can afford on research and development, or on advertising) * Shorter lead times and more reliable delivery performance and etc. Research has shown that the first company to enter a market gains a significant market share advantage over subsequent competitors. A McKinsey and Company study showed that a delay of six months in bringing a product to market can cost a company one-third of the product's lifetime profit potential. (1) The speed of product introduction is greatly dependent on the production system; those companies that can put new products into production quickly obtain this advantage. Hewlett-Packard has dominated the laser printer industry...

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