Discuss the emergence of the information age in the world class manufacturing.
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Only recently, high quality and efficiency were the "necessary and sufficient" conditions for staying in business. Not anymore. Manufacturers must be able to develop and produce customized products rapidly.
Organizations are in the midst of a revolutionary transformation as the world moves from the industrial age to the information age. During the industrial age, companies succeeded by how well they could capture the benefits from economies of scale and scope. Technology was important, but success ultimately accrued to companies that could embed the new technology into physical assets that offered efficient mass production of standard products.
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