TITLE:
Time Competition. The New Strategic Frontier
AUTHORS:
Chiara Demartini, Piero Mella
KEYWORDS:
Time Compression, Time-Based Strategy, Time Value, Strategic Competition
JOURNAL NAME:
iBusiness,
Vol.3 No.2,
June
28,
2011
ABSTRACT: The acceleration of change necessitates strategies to control time, considered not only as a variable that influences the temporal evolution of phenomena but as one that directly influences phenomena itself. This study tries to present the logic of time compression and time to market, as well as the main instruments for the formulation of time-based strategies, not only by observing how the value of time is perceived as a contraction of production and distribution lead times but also by considering the choice of the most opportune moment to start a business and introduce (or withdraw) a new product. Starting from a discussion of time-based competition managerial approaches, this study develops a theoretical framework showing different time-based methodologies (JIT, MRP, OPT, FMS, PERT, HSM) that help management to adopt time-based strategies. It also puts forward a taxonomy of time-based strategies as well as a logical strategic path to time value.