Ch. 5 Flashcards
How does product strategy guide product decisions?
An effective product strategy meets the demands of the marketplace with a competitive advantage.
A structured approach to defining customer needs or requirements and translating them into specific plans to produce products to meet those needs.
Quality Function Deployment
What are the three major elements of product design?
Product definition, design, and selection
What is the objective of product decision?
Develop and implement a product strategy that meet the demands of the marketplace with a competitive advantage.
At what stage in the product life cycle should product strategy focus on forecasting capacity requirements?
Growth Phase
In which stage of the product life cycle should product strategy focus on process modification and being “fine-tuned” for the market?
Introductory phase
What analysis tool lists products in descending order of their individual dollar contribution to the firm?
Product-by-value analysis
It is a rule of thumb in business known as the 80-20 rule or law of the vital few. Identify the most important customers or products.
Pareto Prinicple
At what stage is the product life cycle is product strategy likely to focus on improved cost control?
Maturity –during the maturity stage, the primary focus for most companies will be maintaining their market share.
How can companies generate new ideas?
Understanding customer needs, product development culture, R&D leadership, formal incentives to develop new products, monitoring and anticipating changes in the environment and in products, brainstorming.
Process of creating new product to be sold by a business to its customers.
Product Design
How does the design of services differ from the design of goods?
Service design involves the specific service and entire service concept(physical elements, aesthetic & psychological benefits).
What are common categories of “new products”?
Each new product category has a different impact on operations. Product changes involve marketing, operations, and finance.
What are the product development stages?
Concept, feasibility, customer requirements, functional specifications, product specifications, design review, test market, introduction, evaluation.
Process for determining customer wants and translating them into the attributes that each functional area can understand and act on.
Quality Function Deployment (QFD)
What are the major steps associated with quality function deployment?
Identify the wants, identify how the good/service will satisfy the customer wants, relate customer wants to product hows, identify the relationships between the firm’s hows, develop importance ratings, evalueate competing products, determine the desirable technical attributes, your performance , and the competitor’s performance against these attributes
A process to achieve equal or better performance of a product at a lower cost while maintaining all functional requirements defined by the customer.
value engineering
What tool emphasizes reducing the complexity of a product and improving a product’s maintainability?
Design for manufacture and assembly
What is a graphic or visual technique for defining the relationship between customer desires and a product (or service)?
Process-chain network
What are the benefits of using the House of Quality template?
Requirement planning capabilities, tool for visual and integrated thinking, capture and preserve engineering thought process.
How should managers organize for product development?
Traditionally, A champion, team approach, Japanese approach.
What is a major feature of the Japanese method of organizing for product design?
Cut across organizational divisions to deliver capabilities housed across the organization
What is the process called for determining customer requirements and translating them into attributes that each functional area can understand and act upon?
Quality functional deployment
Achieve equal or better performance at a lower cost while maintaining all functional requirements defined by the customer
value engineering
Developing new products faster can result in a competitive advantage. Product life cycles are becoming shorter and the rate of technological change is increasing
product development continuum
How can managers improve DFMA and value?
Create cross functional teams, consider ease of production and delivery, simplify and reduce complexity, create modularity in good or service.
Small variations in production or assembly do not adversely affect the product
robust design
A design in which parts or components of a product are subdivided into modules that are easily interchanged or replaced
modular design
What are the benefits of improving “manufacturability” with value engineering?
Reduce complexity of product, reduction of environmental impact, additional standardization of components, improvement of functional aspects of the product, improved job design and safety.
What is the term for software that is used to interactively design products and prepare engineering documentation?
Computer-aided design
What technology “builds” products by laying down successive thin layers of plastic, metal, glass, or ceramics?
Design for manufacture and assembly
If a design can be produced to requirements even when the production process has unfavorable conditions, what is the design called?
Robust design
How is a tangible product defined?
A physical product/good that you can touch.
What tool reviews successful products for improvement during the production process?
Computer-aided design
