IT-Governance and Why it is Important
Introduction: What is IT governance and why it is important? It is not enough for corporations to have IT systems and expect them to deliver strategic value to them. Instead, there needs to be a mechanism in place to regulate, monitor, and govern the value creation efforts of the IT systems. This governance mechanism of […]
Production Module – Subcontracting and Materials Issue
Production Order Subcontracting – In the age of production outsourcing and the organizational focus on their core competency, subcontracting of production orders is assuming greater importance. In addition to the business functionality necessary for producing goods in house, sub contraction operations necessitates some additional business process such as generation of sub contracting purchase order. Sub […]
Reverse Logistics
As Supply Chain Activities are evolving and partnering changes in business models, the focus and activities are not restricted to the management of raw materials and finished goods from point of origin from the vendors to plants and further on to the end customers. There is another extension to Supply Chain Process called as Reverse […]
Production and Operations Management – Meaning and Important Concepts
Introduction The very essence of any business is to cater needs of customer by providing services and goods, and in process create value for customers and solve their problems. Production and operations management talks about applying business organization and management concepts in creation of goods and services. Production Production is a scientific process which involves […]
How to Prepare the Project Risk Assessment Matrix?
The Project Risk Assessment Matrix is one of the required documents to complete the Define phase of the DMAIC methodology. The procedure has been designed in such a way to ensure that people implementing the project have given a thought to what can possibly go wrong and begin thinking of mitigation plans. Here is a […]
Organization success is dependent on customer satisfaction and delight. Customer satisfaction is achieved through development of product and service, which have all attributes required by the customer. A success product or services do not only have attractive package design but should be also able to provide robust performance.
Thus, product design must be practical enough for production and powerful enough to provide a competitive advantage.
A good product design has following common features:
The essence of product design is to satisfy customer and maximizes the value for the customer at minimum cost. The product or service should also be able to meet primary needs and desire of the customer. This may not require development of new product, but enhancement to existing product or service.
Product design is a creative process which looks at all the available options and beyond. The process is can be divided into three stages:
A successful product design is combination factors as follows:
Correct Team Selection: This is very essential to get the correct team in place which has expert designers who are not only aware and comfortable with technology but also understanding of customer expectation.
Customer Involvement: Involvement of customer in product design and testing can provide insight into the direction of the project
Prototyping and testing: Product design is high risk concept as it involves commitment of capital and man-power; therefore, it is imperative that extensive prototyping and testing are done with customer and market.
Raw Material: It is essential that raw material to be used in the production meets the quality standards of the end product. Furthermore, procurement system needs to be in place to ensure continuous, cost effective supply.
Production method and process layout: Feasibility of production method and process layout determines future success of the product.
External Factors: Environmental and government regulations plays an important part in product design. And these norms are updated from time to time, so product design should have the flexibility to adapt.
Production selection process is done through a combination of financial analysis, risk analysis, existing product portfolio, raw material supply and pre-determined product criteria.
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