Analytical formulas are introduced for quantifying the revenue gains associated with local, incremental improvements in the speed of product development, supply chain development, or supply chain execution. The formulas provide practical means of imputing an overall economic value to engineering projects that impact lead time. Practical analytical queuing formulas for estimating changes in supply chain speed resulting from engineering changes to product or process also are discussed. An overall approach to engineering management in manufacturing companies characterized by rapid technological evolution is proposed, emphasizing disciplined, sophisticated management of speed. [This paper was part of the Proceedings of the 2012 Industry Studies Association Annual Conference, Industry Studies Association, Univ. of Pittsburgh, Pittsburgh, PA, May 30 – June 1, 2012.]
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