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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“A woman who occupies the same realm of thought with man, who can explore with him the depths of science, comprehend the steps of progress through the long past and prophesy those of the momentous future, must ever be surprised and aggravated with his assumptions of leadership and superiority, a superiority she never concedes, an authority she utterly repudiates.”
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“... the generation of the 20’s was truly secular in that it still knew its theology and its varieties of religious experience. We are post-secular, inventing new faiths, without any sense of organizing truths. The truths we accept are so multiple that honesty becomes little more than a strategy by which you manage your tendencies toward duplicity.”
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