1. Cost Leadership Strategy
The goal of cost leadership strategy is to produce products and services at the lowest cost in the industry. In other words to be the industry leader in low cost. An example is Walmart, who uses an automated inventory replenishment system, which reduces inventory storage requirements and saves floor space. This allows for their retail stores to use the maximum amount of space for selling goods.
Read more about this topic: Competitive Advantage
Famous quotes containing the words cost, leadership and/or strategy:
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