Ops Man. Test 2 Review

Ops Man. Test 2 Review - Test 2 Chapter 5 Product Decision...

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Test 2 Chapter 5 Product Decision – the selection, definition, and design of products. Stages of the Product Life Cycle 1.) Introduction a. Costs the most because money has to be allotted for research, development, process modification and enhancement, and supplier development. 2.) Growth a. Product design has begun to stabilize 3.) Maturity a. Competitors are established b. High volume, innovative production c. Improved cost control, reduction in options, & paring down of the product line may need to occur to make a profit or for market share. 4.) Decline a. Typically poor products to invest resources and managerial talent. b. Unless dying product make some sort of unique contribution to firm’s reputation, it should be terminated. CAD Systems – Computer Aided Design Interactive use of a computer to develop and document a product Used for drafting and 3D drawings Saves time and money by shortening development cycles Payoff is significant because most product costs are determined at the design stage Brainstorming – A team technique to generate creative ideas on a particular subject. 1.) Understanding the customer a. Premier issue in new-product development. 2.) Economic Change
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a. Brings increasing levels of affluence in the long run but economic cycles and price changes in the short run. 3.) Sociological and demographic change a. Alters the size of preference for homes, apartments, and automobiles. 4.) Technological Change a. Makes everything possible. 5.) Political/legal change a. Brings out new trade agreements, tariffs, and government contract requirements. 6.) Market practice, professional standards, suppliers, and distributors. Robust Design – A design that can be produced to requirements even with unfavorable conditions in the production process Product Development Strategies Group Technology – A product and component coding system that specifies the type of processing and
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This note was uploaded on 04/17/2008 for the course BUSINESS A 101 taught by Professor Gianinni during the Spring '08 term at Thiel.

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Ops Man. Test 2 Review - Test 2 Chapter 5 Product Decision...

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