ABSTRACT
To be effective, manufacturing strategy must recognize and address the interests of all three types of stakeholders, customers, investors, and employees. There is an increasing interest in producing goods and services that provide greater customer satisfaction. This shows up in the “new” considerations demanded in product design, product quality, competitive pricing, and continuing customer support. We are also quite aware of the importance of making a profi t for our investors and the diffi culty of achieving this in our global economy. This is seen in some of the drastic short-term cost-cutting solutions such as reducing the workforce and consolidating plants, as well as new improved machines, tools, and factory operations.
