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One third of the cost of health care in the United States, or $350 billion, is not spent on treating patients, but on handling information about them. Every company is in the information business.
Every business competes based on information such as market research, logistics, and advertising. Inventory is a measure of faulty information. With perfect information, there would be no inventory. Information is the “glue” that holds together value and supply chains. What competitive advantage is your organization gaining from information?
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