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OM3: Product Strategy, image, image - Coggle Diagram
OM3: Product Strategy
How to translate customer needs into a product/service?
marketing
R&D/ Product Development
Process Design
Operations / Supply Chain
HAPPY CUSTOMER
Critical OM323 Contributions to the Core?
New Product Design: To transform a new market opportunity and/or new product technology into a set of specifications that define a product
New Process and Supply Chain Design: To transform product specifications and new process technology into a new production system and supply chain
Why is OSCM a critical decision factor in product design?
It determines process and supply chain: new product design has a big effect on how the operational processes and supply chain have to function
A good product design must integrate inputs from...
technology and engineering
Processes and supply chain (OM)
customers and marketing
80% of a product's total supply chain costs are determined by decisions made in product design
Product development is a process: Has to be managed by key operational principles in order to improve its speed, quality, and costs
Hi quality innovators
Fast innovators
Product Life Cycle Theory:
Growth: Product modifications and standardization. Rapid capacity increase
Maturity: Costs become important as a competitive priority. Supply chain efficiency matters more.
Launce: intense product development effort
Decline: New versions necessary. Consider business model innovations.
Product Design and Development
Strategic Inputs: Consider both market and technology. Fit with business strategy.
Cross functional and Cross organizational Collaborations: Work with customers and suppliers
Stage-Gate Process: Start with many creative ideas. Select and narrow down. Ideas become more concrete plans.
Stages of New Product Introduction
Detailed Design and Development
Product and Marketing Testing
Product and Process Planning
Specifications
Product/service specifications: he characteristics of a product or service that define the product/service
Process Specifications: The operating characteristics that the manufacturing process making the product/delivering the service is held to in oder to create the desired product/service
Commercialization
Concept development
Market Introduction
New Product Introduction:
Why do companies develop new products?
Opportunities from technological innovation
Regulatory requirements
Unmet customer needs
4 critical questions for successful NPI and CORE?
Can we make it?
What level of quality and performance?
Is it needed by customers
Can we make a profit?
NPI Funnel
