GMS 401 Chapter Notes - Chapter 4: New Product Development, Manufacturing Engineering, Value Engineering
7 Oct 2016
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How will the product work or perform its intended function. How will the product be made? (number and variety of parts) Making sure the product speci cation meets the customer requirements. Product decision: the objective of the product decision is to develop and implement a product strategy that meets the demand of the marketplace with a competitive advantage. New product development requires that organizations build structures internally that have open communication with customers, innovative organizational cultures, r&d, strong leaderships, formal incentives, and training. Only then can a rm pro tably focus on speci c opportunities such as: Despite constant effort to introduce viable new products, many new products do not succeed. >other changes such as market practice, professional standards. There are four phases of a products life cycle. The product life cycle may be a matter of a few hours, to months, to years, to decades. The operation function must be able to introduce new products successfully.
