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Success depends on balancing global strategy with local markets’ needs.
• (2) Rationalization – Lean production is now the norm as Japanese principles such as zero stock, TQM and continuous improvement are adopted.
• (3) Modularization – Engines, transmissions and other key parts are interchangeable between models in order to cut costs and reduce new product development time from six years to three or less.
These three concepts – particularly modularization – allow companies to concentrate on building a range of products; and enable fast response to an increasingly segmented market where distinct consumers demand the latest MPVs, SUVs or executive saloons...
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