MG 211 Lecture Notes - Lecture 5: Quality Function Deployment, Product Manager, Production Planning
Document Summary
Customers buy satisfaction, not just a physical good or service. Limited and predictable life cycles requires constantly looking for, designing, and developing new products. Product decision (selection, definition, and design of products; develop and implement a product strategy that meets the demands of the marketplace with a competitive advantage): differentiation -> competitive advantage. Introduction (fine tuning may warrant unusual expenses for research, product development, process modification/enhancement, supplier development). Growth (product design begins to stabilize, effective forecasting of capacity becomes necessary, adding or enhancing capacity may be necessary). Maturity (competitors are established, high volume/innovative production may be needed; improved cost control, reduction in options, paring down of product line). Product-by-value analysis (list of products, in descending order of their individual dollar contribution, as well as the total annual dollar contribution of the product). Concept feasibility customer requirements functional specifications product. Specifications design review test market introduction evaluation.
