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Product and process (Product terminology (SKU: Stock keeping unit, FFF:…
Product and process
Product terminology
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Feature and options: When a product is different from the finished product making it specific to a customers wishes.
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Item master file: Information that contains all basic information about the product stored for the ERP system.
Product Design
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Obsolete: products that have been made but never left the factory as their is no market for them making them obsolete and scraped.
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Product structures
BOM (Bill of material): a list of material that the designer puts at the bottom of the product drawing.
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Product range
Width of a product group: the amount of different models, types and brands in the range. amount of different product groups.
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Innovation
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Design for logistics: Product designers get help from the logistics department to help reduce the logistics cost at the beginning of the product lifecycle.
Product lifecycle
5 Phases of the PLC
- Introduction of the product. low sales but grow slightly.
- Growth: Gaining traction through familiarity, mostly from advertising. If taken from stores called "pull phase" product is taken from stores
- Maturity: Growth is starting to disappear from more competition for the product. Try to cost costs where there is room to make profit called "Cost Phase".
- Saturation: Sales are more or less Static now, more marketing is involved now for the "extra phase".
- Decline: Sales are in decline. Highly discounted to sell as much products as possible. Trying to increase the cash flow "cash phase"
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