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Time Compression and the Supply Chain

In: Profit from Time

Author

Listed:
  • Ian C. Gregory
  • Simon B. Rawling

Abstract

The largest recognizable business process is that of the supply chain. This is the business process that converts raw material (from the ground, sea or air) into a consumable product. Even simple products such as nails have a complicated supply chain. For example, the iron must be extracted from the ground, turned into steel ingots, turned into wire, formed into individual nails, then packaged, sent to a warehouse and then a retailer before a customer can purchase. Within each of these stages there are many sub-stages; for example, the wire may need to be drawn into ever decreasing diameters by a series of machines, or the protective treatment may involve several coatings. In a similar manner, the blast furnace will need fuel and the steel-making process will need chemical additives. So, even for a simple product like a nail there are many links to other chains of supply.

Suggested Citation

  • Ian C. Gregory & Simon B. Rawling, 1997. "Time Compression and the Supply Chain," Palgrave Macmillan Books, in: Profit from Time, chapter 4, pages 52-78, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-14591-1_4
    DOI: 10.1007/978-1-349-14591-1_4
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