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Competition, technological advancement and the sophistication of consumers’ needs have led to the evolution of competitive paradigms, in which, time‐based competition apparently has emerged as the competitive paradigm of the 1990s. While much has been written about the paradigm since it was first highlighted in the late 1980s, no comprehensive literature review is currently available. Seeks to provide such a review of the literature. Categorizes the existing literature into four broad classes: descriptive literature, managerial implications, case studies and applications, and mathematical modelling. Presents the key ideas and the associated literature to the reader as a guide to the total topic of time‐based competition. Reviews also the theoretic time‐based modelling literature, and so highlights the current status and limitations of this literature. Provides the motivation for further research to be carried out within the realm of time‐based modelling.

The purpose of this paper is to develop and justify a theoretical framework for analyzing the relationship between manufacturing strategy, business strategy, time-based manufacturing competence, capability and competitiveness and their impact on firm performance for firms operating in the manufacturing sector. Many executives and scholars have argued that time is an important component for developing a brilliant strategy to achieve a sustainable competitive advantage for the firm.

This paper provides a theoretical framework primarily concerned with the relationship between time-based manufacturing competence, competitive priorities and firm performance. The framework suggests that firms focusing on time as a strategic factor at both strategic levels – business strategy and manufacturing strategy – can achieve a multi-competitive advantage, and, in turn, high performance.

To realize the level of performance associated with time-based manufacturing competence, it is essential for firms to identify the areas in which time can be reduced. These include reduction in design lead time, product concept to production; time-based competition for product-to-market firms; time-based manufacturing competence; product development activities; fast-to-product; and customer service.

This article provides a theoretical framework for linking manufacturing strategy to business strategy and performance to help expand the body of knowledge for other researchers to follow.

The purpose of this paper is to evaluate the relationship between time-based manufacturing competence (TBMC), time-based competitiveness, time-based manufacturing capability, and the performance of SMEs engaged in the steel minimill industry in the USA.

This study was based on an empirical investigation of manufacturing firms in the steel minimill industry in the USA. The sample of firms was provided by the US Association of Iron and Steel Engineers. In order to obtain valid and reliable measures of the variables, previously validated scales were used to measure all variables. The primary data for the study were collected from a self-administered mail survey of 137 SMEs with the sample consisting of 71 SMEs indicating a response rate of 52 percent.

Statistically significant positive relationships were found between all independent variables and performance. The results also indicate that the high performers have a higher TBMC than the low performers. The findings further confirm the assertion in the manufacturing strategy literature which states that time, as a strategic factor, is a source of competitive advantage.

From a methodological perspective, a potential concern may be that the measures are all self-reported. Consequently, the relationships tested may be susceptible to the influence of common method variance.

TBMC enables SMEs to offer high-quality products at low cost and in a timely manner. This reflects the value of the positive relationship between TBMC and business performance.

This study’s finding identifies the need for time-based competition. The literature suggests that the strategic focus on time enables firms to obtain a sustainable competitive advantage. Nevertheless, this suggestion has been based on conceptual rather than empirical research. The results of this study provide empirical support for that suggestion with respect to SMEs.

An increasing number of firms are planning to become “time‐based companies”, that is to consider time as the main issue of their manufacturing strategy. However, such change in attitude, in order to be effective, must be supported by a performance measurement system focused on time. This article suggests a framework useful for designing a performance measurement system which is consistent with time‐based principles and can support managers both in strategic and in operating decisions. The framework takes into account the different ways through which a company can use time to create a competitive advantage and considers the main activities that are critical for achieving such results. Hence, a “minimum set of measures”, consistent with the information requirements of each company, is determined.

Compressing the time from idea to market has become a focal competitive priority of global manufacturing companies. Develops a framework that assesses the strategic value of a company in terms of its “time” performance. The primary tool employed to accomplish this is an agility matrix whose cells represent intersection of agility‐determinants and segments of time‐to‐market. After grading a company on each cell, a weighted sum, called the “agility index” is computed, which is an indicator of the firm′s capability to compete on time.

A definition recently proposed by the Institute of Logistics states that: “Logistics is the time‐related positioning of resources”. Experience indicates that major benefits can be derived by focusing on the effective management of the key resources of the business. The key to success involves understanding what constitutes best practice in management of these resources with respect to time and how this can be applied, given the unique characteristics of a particular business. By viewing logistics as a time‐based strategy many benefits can be obtained. Presents an overview of the strategic issues based on experience with partner companies at the Warwick Manufacturing Group, University of Warwick. Discusses the tools and measures used for re‐engineering the supply chain through the use of time, and gives a brief example demonstrating the success of this approach.

The purpose of this paper is to examine the relationship between customer order lead time (COLT) and the price sensitivity of an electrical equipment manufacturer company. In consequence, it examines two research questions in terms of COLT, price and profitability level and to ensure the validity and practical justification of these research questions.

In this research the authors have used a case study approach where three business measures, namely COLT, price and the profitability level of a case company were investigated and analyzed critically. These measures were implemented through four different customer segments with two production lines of the case company. Data were collected from the company's order delivery database from the period 2006 to 2008. In addition, different experimental data were collected through interviewing and reviewing the results of the data analysis with the unit managers.

In this paper the authors have observed the correlation between the price, profit and COLT with all four customer segments in both the production lines of the case company. From the case data, the authors concluded that the customer did not pay more when the COLT is shorter than with the average time. It is also noticeable that the profit margin is higher for the case company to handle COLT with shorter lead time than the average order delivery lead time.

More case examples might be helpful to motivate the managers to accept the research outcomes.

The concept of the company's COLT in relation to the price and profitability level supports organizational managers in their decision‐making process in terms of productivity level and the company's growth. It will motivate the managers to make tradeoffs among various developmental measures.

This paper implemented a unique approach for measuring the significant level of price and profitability level over COLT. From the outcomes of this study, it is observed that the price correlated positively with the COLT and has a direct and significant impact on it. When the price is increased the COLT is also increased. It is also noticed that the products of the case company which offered shorter lead times were on average also more profitable, even though there were no significant differences in average pricing between the customer segments.

The importance of responding to time‐based competitive pressures has prompted US manufacturers to emphasize time‐based performance and deploy strategic action programs aimed at cycle time reduction. This study examines time‐based competition among first tier suppliers to the Big Three in North America. A comprehensive set of time‐based performance measures is defined and time‐related action programs associated with world class manufacturing strategies are identified. Relationships between time‐related action programs, time‐based performance, and overall firm performance are examined. The study shows that time‐based performance significantly affects overall firm performance and that manufacturing lead time is especially critical in the automotive industry. The study also identifies strategic action programs that result in improved performance on various dimensions of time‐based performance.

Businesses succeed or fail based on competitive advantage. Over the course of business history a number of innovative business practices have earned the distinction of being “milestones” in competitive advantage. Examples of such groundbreaking competitive developments include portfolio strategies in product management and restructuring companies specifically to gain competitiveness. In the early 1990s “Time‐Based Competition” was proposed by Stalk and Hout to be a new major dimension of competition. The book on this subject by these authors, Competing Against Time, (1990) is regarded as a classic work in competitive strategy. In essence, time‐based competition focuses on gaining advantage by being faster than competitors—faster in responding to market changes, faster with new product development and introductions, faster in integrating new technology into products, and faster in distribution and customer service. Success stories of time‐based competitors are numerous; for example the Japanese used time‐based competition as a fundamental component of their automobile manufacturing strategy that caught U.S. firms off guard. Just as time‐based competition matured as a competitive strategy the Internet, World Wide Web and other “virtual” communications links have emerged, proliferated and profoundly impacted competitive strategy. This paper proposes a new dimension of competitive advantage to be called “virtual marketing.” Virtual marketing could be a new milestone in competitive strategy much like time‐based competition.

Considers the recent development of time‐based management as a way of enhancing the competitive position of a manufacturing organization. Based on a review of literature related to time‐based management, several possible relationships between the use of time‐based competition and its benefits in attaining stated business goals are defined. Results of empirical investigation using the manufacturing firms in the State of Indiana are discussed and some preliminary conclusions about the use of time‐based competition strategies among manufacturing organizations are drawn. The results of this study suggest that a full‐scale study of international scope will be beneficial to judge the use of time as a competitive weapon among manufacturing firms.