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He said a new, more efficient manufacturing system for the plane, which Boeing has said would cut the plane's production costs by 10percentt or more, would be an element in making it a success.
A more efficient manufacturing process for CFRP is expected to save energy, time and cost for production.
The shortage, caused by problems in I.B.M.'s conversion to a more efficient manufacturing process, contributed to a 50percentt drop in sales of Apple's flat-screen iMac.
But as Joseph Hogan of GE, an industrial firm with a health division, points out, smarter vaccines and more efficient manufacturing may solve that problem.
Mr Raju reckons that more efficient manufacturing could translate into $500m of savings over the lifetime of a $1 billion-a-year blockbuster drug.
It is also using the collaboration with Coventry University to develop new products and more efficient manufacturing.
$50 billion in cost savings brought on by more efficient manufacturing, distribution and inventory management.
"In more detail, there's talk of an innovation agency; a business development bank; a long-term target for more manufacturing output; a more efficient tax system with targeted tax breaks for business; linking skills to industrial priorities; encouraging more collaboration; nd an international network for export promotion.
In a previous article, we called Toyota's product development system the "second Toyota paradox .5 TPS was the first; its features seem wasteful but result in a more efficient overall system, such as changing over manufacturing processes more frequently (presumably inefficient) in order to create short manufacturing lead times.
A more efficient tax system can mean more investment, bringing higher productivity and delivering that growth.
Mr. Lautenberg said, "The one thing that New Jersey needs today is a more efficient transportation system.
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