Enabling time‐based strategy through logistics ‐ using time to competitive advantage

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.