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Research and development ((Development and implementation** – involves…
Research and development
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If : a firm has too much capacity, valuable resources (plant, equipment, and money) will lie idle.
If a firm has too little capacity, additional capacity may have to be added later when it is much more expensive than in the initial building stage
Development and implementation** – involves research activities undertaken specifically to put new or existing knowledge to use in producing goods and services
Applied research – consists of activities geared toward discovering new knowledge with some potential use
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Product line – a group of similar products that differ only in relatively minor characteristics. An important issue in deciding on the product line is to balance customer preferences and production requirements.
Once the product line has been determined, each distinct product within the product line must be designed
Design planning – the development of a plan for converting an idea into an actual product or service
The major decisions involved in design planning deal with product line, required capacity, and use of technology
a set of activities intended to identify new ideas that have the potential to result in new goods and services
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Raw-materials inventory – consists of materials that will become part of the product during the production process
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Scheduling – the process of ensuring that materials and other resources are at the right place at the right time
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Timing – specifies when the materials will arrive at each station and how long they will remain there
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The major objective of quality control is to see that the organization lives up to the standards it has set for itself on quality.
Quality control – the process of ensuring that goods and services are produced in accordance with design specifications
Example: Nestle, Boeing, and Ritz-Carlton Hotels are all past winners.
Malcolm Baldrige National Quality Award – an award given by the President of the United States to organizations judged to be outstanding in specific managerial tasks that lead to improved quality for both products and services
Making products or completing services right the first time reduces many of the rejects and much of the rework.
The number of defects decreases, which causes profits to increase.
Over the years, more and more managers have realized that quality is an essential “ingredient” of the good or service being produced, and that this view of quality provides several benefits.