... time is an advantage in most cases. If an organization can deliver sooner than its competitors with similar quality, price and product features, it will win the business. In other markets, quick delivery can justify a premium price and will certainly enhance customer satisfaction. In all cases, shorter lead time increases flexibility, reduces the need for inventory buffers and lowers obsolescence risk. (3) Section 2 i) Speed time-to-market for new products To achieve higher speed time-to-market for new products, the following strategies can be performed: Participate in the customer design process 1) Lack of coordination and poor communication between involved parties and systems can lead to problems in sourcing and managing components specifications. If manufacturing is involved too late in process, it may slow release of the product and likely result in redesigns that are more expensive than they would have been (earlier) and possible further delays in product release. Failure to involve purchasing early ...

See this essay or coursework document in full right now