OPERATION MANAGEMENT.

OPERATION MANAGEMENT

Operation Management
Table of Contents
Introduction......................................................................................................................................3
Overview of time-based competition...............................................................................................3
Literature review..............................................................................................................................5
Conclusion.......................................................................................................................................7
Reference list...................................................................................................................................8
Page 2 of 9

Operation Management
Introduction
The aim of this report is to understand and discuss the concept of time-based competition in the
sector of operations management and supply chain management. It has always been observed
that the overall success of business operations relies on the timely delivery and distribution of
goods and services. Any business organization and its operational activities depend upon their
inventories, distribution, logistics and supply whose mantra is to be time-bound. In these times of
internet, and the world is virtually online, being time bound can either make or break the success
strategy of any organization. Therefore, in this report, the concept of time-based competition and
its utility in supply chain management is to be discussed with supporting examples and
arguments.
Overview of time-based competition
The concept of time-based competition states that time is a valuable resource and any
organization or firm can utilize it to gain an advantage in terms of market competitiveness. In
these times market situations, which are changing frequently owing to political, social and other
external factors, only time can create an advantage of any company over its counterparts (Xiao
and Qi, 2016). George Stalk Jr., of the Boston Consulting group based in the USA, first coined
the term ‘time-based competition' in the 1990s. It is in the book named ‘Competing against
Time’ where the term was first spoken. Managing day-to-day operations is one of the many
functions that a firm or organization goes through. Amidst these functions, the supply chain
management is something that is of prime importance to any firm’s success as well as growth
(Lambert and Enz, 2017).
The concept of time-based competition or recognizing time as a meritorious resource stems from
the fact that stocking up inventories of products or goods in time goes a long way in creating
positive responsiveness of the organization in front of their customers. George Stalk and Thomas
Hout undertook ten years of research before they put forth the significance of time and its utility
for firms which want to gain success in production, newer product development, in sales and of
Page 3 of 9