4.7: Product Development and Management

Question 1

Describe the purpose of production management systems

Answer 1

• production management systems deal with converting raw materials into finished goods or products
• this is done by deciding on the inputs, outputs, processes and controls that need to take place in order to ensure a product or service is created in line with the
  specifications, within the quantity and by the schedule demanded and at a minimum cost to the business

Question 2

Explain the features of product development

Answer 2

( how )
- product development outlines the stages from when a product/service is conceived as a raw idea to when it is finally brought to market
- the elements of the product development is usually outlined in a series of sequenced events which typically include: ideation, research and development, prototyping, testing and commercialisation
( why )
- the objective of product development is to cultivate, maintain and increase a business’s market share by satisfying a consumer demand
- by selling new products to meet consumer needs, a business will increase its brand loyalty and sustain its competitive advantage

Question 3

Identify three features of quality assurance

Answer 3

• is the proactive process of guaranteeing a product’s quality to the consumers while the product is being developed
• informs customers that products have been manufactured to a quality standard promised
• involves checking and reviewing the production process
• focuses on preventing poor quality products as opposed to correcting problems
• can result in a reduction of production costs, less waste and reworking of products

Question 4

Identify three features of quality control

Answer 4

• the reactive activities or techniques used to achieve and maintain the products’ qualityafter the product is developed and before it’s released
• It involves testing, checks, mechanisms and policies being in place to examine whether the product meets required specifications and standards set by the firm, before it reaches customers
• finding & eliminating courses of quality problems through tools & equipment so that customer’s requirements are continually met

Question 5

Identify three features of quality improvement

Answer 5

• the reactive activities or techniques used to improve the products’ qualityafter the product is developed and after it’s released
• is the systematic approach to reduction or elimination of waste, rework, and minimisation of losses in the production process
• refers to the continuous improvement process focused on processes and systems
• involves to the analysis of business performance and business efforts to improve performance