It is the physical output of the whole production process A. Prototype B. Product C. Business Model D. Product description
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It is the physical output of the whole production process
A. Prototype
B. Product
C. Business Model
D. Product description
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Solved in 2 steps
- Which of the following activities is not part of the product development process? a. Strategic planning b. Identification of customer needsc. Generation of product concepts d. Empirical validation of the concepts e. Forecasting of sales for a new producta. The business functional areas their product supports b. The product’s industry focus and what size of business their product supportsc. The average cost of the product or any license fees per seatd. How long the vendor has been in businesse. Any other critical information on the vendorWhich of the following should NOT be included in the analysis of a new product? 1. money already spent for research and development of the new product II. reduction in sales for a current product once the new product is introduced III. increase in accounts receivable needed to finance sales of the new product IV. market value of a machine owned by the firm which will be used to produce the new product V. $1,000,000 the company spent 5 years ago to buy a machine which will be used to produce the new product I and III QI and V II, III, and IV I, II, and IV
- What is true regarding TQM? (one attempt for multiple choice question) O TQM is a continuous process and the responsibility of every employees O TQM is costly and should be implemented only when there are significant revenue impacts TQM is conceptual only, and is not measurable O TQM is initiated by individual product issues and ceases when the problem is resolved TQM is the responsibility of the Operations manager, not marketing or accounting.Which business product classification is most appropriate for a computer chip used inside a pickup truck? a. Raw materialb. Major equipmentc. Process materiald. Component parte. Accessory equipmentDiscuss the differences between production concept and product concept. Also provide examples of companies using the two concepts. (100-200 words)
- 4. Happy Toy Company's R&D The Happy Toy Company's R&D department is always looking for great ideas for new toys. On average, the R&D department generates about 10 new toy ideas a week. To go from idea to approved product, the idea must go through 5 stages: Pr(Fail) = 40% Pr(Fail) = 50% Pr(Fail) = 65% Pr(Fail) = 80% Initial Safety testing Focus Final decision Mockup screening group In initial screening a staff member spends 2 hours considering the idea. In mock-up, the idea is sent to one of many suppliers to produce a physical mock-up of the toy. There is essentially unlimited capacity at this stage, but it takes 4 days to get the mockup built even though multiple mockups can be built simultaneously. In safety testing each idea requires 2 days from a staff member to have the idea checked for safety. In focus groups each idea requires 3 hours from a staff member to have the idea test marketed. Finally, the management team meets for 4 hours per idea to decide if the toy should be added…Engaging in product design for manufacturability reduces Select one: a. Training costs Preproduction design time Assembly time Yes Yes Yes b. Training costs Preproduction design time Assembly time No No No c. Training costs Preproduction design time Assembly time Yes Yes No d. Training costs Preproduction design time Assembly time No Yes YesA design notation is a graphical representation of an idea or a design decision that is created with the intention of being used in the process of designing the product itself.
- A work team is looking at a current product in the LUML catalog --- the L555X fixture. The L555X was introduced about 2 years ago; is a pretty good seller; seems to meet customer needs (virtually no complaints and few returns); and should be in production for several more years. No major changes in capability are planned. However, LUML is interested in improving the profits from the product. Marketing opines that the L555X is fairly priced given the competition and L555X’s capabilities. One option to try to increase profits is to raise the price (revenue) while holding the production expenses constant. Marketing believes that the L555X has a typical demand curve; and an increase in price will lead to a decrease in sales volume and lower overall revenue. On January 13, the team analyzed the current design and identified 63 parts in the L555X. On January 27 and 28, the team met with the industrial engineering department. Together they were able to identify 108 interfaces in the L555X.…Organisations using a Kaizen approach strive for perfection. Which of the following statements is NOT a feature of a Kaizen approach which an organisation would adopt to make consistent improvements on current procedures in pursuit of perfection?c A Continuous improvement in cost saving B Focuses on cost saving during the production phase C Rigid standard costs to promote consistency and control D Target percentage reductions in the unit cost are set each monthAnalyses incorporate people, whereas designs focus on the product. Analyses create models, whereas designs do not.