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:
“Keeping accounts, Sir, is of no use when a man is spending his own money, and has nobody to whom he is to account. You won’t eat less beef today, because you have written down what it cost yesterday.”
—Samuel Johnson (1709–1784)
“The liberal wing of the feminist movement may have improved the lives of its middle- and upper-class constituency—indeed, 1992 was the Year of the White Middle Class Woman—but since the leadership of this faction of the feminist movement has singled out black men as the meta-enemy of women, these women represent one of the most serious threats to black male well-being since the Klan.”
—Ishmael Reed (b. 1938)
“That is the way of youth and life in general: that we do not understand the strategy until after the campaign is over.”
—Johann Wolfgang Von Goethe (1749–1832)