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What were the notable differences between the Phoenician civilization and the other three in this chapter?
Low-Cost Strategy
A competitive strategy focusing on becoming the lowest cost producer in an industry to offer products or services at the lowest price possible to consumers.
Production Lead Time
The total time required to manufacture an item, including order preparation, queue, setup, run, inspection, and put-away time.
Supply-Chain Management
The management of the flow of goods and services, involving the movement and storage of raw materials, of work-in-process inventory, and of finished goods from point of origin to point of consumption.
Service Firms
Companies that provide intangible products or services to customers.
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