MSOM 306 Lecture 5: Chapter5-Design of Goods and Services

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Explain how time-based competition is implemented by om. Describe how products and services are defined by om. Explain how the customer participates in the design and delivery and services. Organizations exist to provide goods or services to society. Great products are the key to success. Customers buy satisfaction, not just a physical good or particular service. Fundamental to an organization"s strategy with implications throughout the operations function. Goods and services are the basis for an organization"s existence. Limited and predictable life cycles requires constantly looking for, designing, and developing new products. Product decision: the objective is to develop and implement a product strategy that meets the demands of the marketplace with a competitive advantage. May be any length from a few days to decades. Operations function must be able to introduce new products successfully. Research; product development; process modification and enhancement; supplier development. Adding or enhancing capacity may be necessary. High volume, innovative production may be needed.

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