Despite a decade or more of restructuring and downsizing, many U.S. companies are still unprepared to operate in the 1990s. In a time of rapidly changing technologies and ever-shorter product life cycles, product development often proceeds at a glacial pace. In an age of the customer, order fulfillment has high error rates and customer inquiries go unanswered for weeks. In a period when asset utilization is critical, inventory levels exceed many months of demand.
A version of this article appeared in the July–August 1990 issue of Harvard Business Review.
