Manufacturing Strategies : Methods and Techniques of R&d for Gaining Competitive Advantage

MANUFACTURING
STRATEGIES
STUDENT DETAILS
STUDENT DETAIL

MANUFACTURING STRATEGIES 1

MANUFACTURING STRATEGIES 2
Table of Contents
Introduction................................................................................................................................2
Methods and techniques of R&D for gaining competitive advantage in manufacturing sector 2
Identifies drawbacks of above strategies in context of an SME vs global corporation.............4
Testing indicator are also required.............................................................................................5
Cross-functional implications of strategy implementation........................................................6
Summary....................................................................................................................................8
References..................................................................................................................................9

MANUFACTURING STRATEGIES 3
Introduction
On the other, long term success in manufacturing depends upon various factors such as
relationship with the clients, profit margin percentage, adoption of latest manufacturing
strategies, etc. Research and Development (R&D) and innovation methods are the important
long-term aspects for strategic improvements (Francis, et. al., 2017). In this report, there will
be discussion about the range of methods and techniques that are involved in gaining
competitive advantages from the perspective of R&D.
Methods and techniques of R&D for gaining competitive advantage in manufacturing
sector
Cost leadership strategy: In order to gain competitive advantage, it is important to incorporate
the methods of cost leadership strategy. This strategy will help the manufacturing companies
to lower down their cost spend on the production in the effective and efficient way. Here,
R&D department of the company plays an important role because through the help of R&D
department an organization develops an effective machinery that will help them to lower
down the production cost. Lowering down the production implies in directly deals in
lowering overall cost. Later on, an organization can give products to their retailers or
suppliers in lower cost with more profit margin percentage as compare to their other
competitors. For example: Rio Tinto – Metals is a multinational British-Australian
manufacturing company, the management incorporates the cost leadership strategy. Their
R&D department bring innovative methods so that the company can lower down their
production cost (Esfahbodi, et.a l., 2017).
Technology based competitive strategy: In order to gain competitive advantages, it is
important that the manufacturing industry should work on the aspects of the technological
reforms. Incorporating technology based competitive strategy, comprises two major