Feasibility Studies And Product Life Cycle Flashcards
What are feasibility studies
Used to assess the practicality of a project before investing. Make sure that it will make enough money for the people involved
How is computer modelling used in production planning
Computers can be used to simulate the planning of the assembly line, cells, materials, machinery and other elements
What is lean manufacturing
Production system that focuses on reducing waste, creating customer value and seeking continuous process improvement
What is cycle time
A metric that expresses the average time it takes to process raw materials into a completed product
What is takt time
The rate at which a product/service should be produced to meet customer demand
What is a buffer zone
Used to adjust for variations in the production process
What are bottle necks
A point of congestion on the production system
How is computer modelling used in feasibility
They can test the feasibility of designs for example:
Kitchen layout ergonomics assessment of the working triangle
Units can be moved and rearranged easily
Jet engine development
Testing assembly and disassembly
What is the first stage in a product life cycle
Introduction
What is the second stage in a product life cycle
Growth
What is the third stage in a product life cycle
Maturity
What is the last stage in a product life cycle
Decline and replacement
What are the stages of a product life cycle
Introduction, growth, maturity, decline and replacement
