Manufacturing Strategy the Key to Business Success – A Review

Abstract

Over the last few years, industrial strategy has evolved as a philosophy, field of research and experience. Nevertheless, as the clarity of production strategy has increased, as various methods and different viewpoints have arisen, the clarity of production strategy has diminished. The value of manufacturing strategy and its application by businesses to improve their output was briefly reviewed in this article. It can be inferred from the studied literature that different businesses have implemented numerous production methods in order to develop their market efficiency. Aspects such as anticipation of emerging technologies and a connexion between manufacturing strategy and business strategy, a structured strategic planning mechanism including the management of the group, and coordination of the manufacturing strategy to the workers of the company should be included in the best manufacturing strategies in businesses. This paper proposes a manufacturing approach model that encompasses five aspects of decision-making, namely 1) product design engineering 2) preparation and regulation of manufacturing 3) organisation and management 4) plant and equipment and 5) labour and personnel.