COMMERCE 2OC3 Chapter Notes - Chapter 5: Exploded-View Drawing, Engineering Drawing, Life-Cycle Assessment

• School: McMaster University
• Department: Commerce
• Course: COMMERCE 2OC3
• Professor: Fouzia Baki

Document Summary

Chapter 5: sustainability in the supply chain and the design of goods and services. Product decisions: the selection, definition, and design of products. Om decisions; product strategy may focus on developing a competitive advantage, low cost, rapid response, or a combination of these. Product design can manifest itself in concepts, technology, and packaging. Product selection is choosing the god or service to provide to customers or clients. Service organizations differentiate themselves through their product offerings. Other companies develop and execute a low-cost strategy through product design. Product decisions are fundamental to an organization"s strategy and have major implications throughout the operations function. Products are born, they live and die, and they are cast aside by a changing society. There are four phases of a product"s lifecycle: introduction, growth, maturity, decline. Life cycles can be a matter of hours to a number of decades, it is dependent on the type of product that is being offered.