Advance manufacturing strategy and firm performance

Abstract

PurposeThe purpose of this paper is to assess the implications of organizational knowledge, source of information and functional orientation, resource-based view of the manufacturing and global orientation, on manufacturing practices which include advanced manufacturing strategies.Design/methodology/approachAn empirical study approach has been used to assess the implications of advanced manufacturing strategies on firm performance.FindingsThis paper provides a framework for managers to: assess competitive priorities of the industry; identify order winners for the industry; identify key decision areas or practices for improvements; and to assess the role of implications of organizational knowledge on the manufacturing practices.Research limitations/implicationsThe limitations are as follows: the issue of organizational knowledge and learning is assessed from manufacturing view point only; plants located all over India are considered for study; and considers plants employing different manufacturing systems and products.Practical implicationsSaturated with the conventional manufacturing technologies, a growing number of small- and medium-scale industries began to explore advanced manufacturing technologies (AMTs). Investment in AMTs remains a promising but potentially risky venture. This paper helps the small- and medium-scale industries to adopt viable AMTs and business performance strategies and then provides guidelines for enhancing their competitiveness.Social implicationsThis paper may help all the stakeholders of small- and medium-scale industry.Originality/valueThis paper is based on one of the few studies conducted to assess the implications of advanced manufacturing strategies on firm performance in Indian scenario.