- “With respect to the product decision, managers must be able to accept risk and tolerate failure.” Comment on why this is a necessary hazard in making new product decisions, given all the powerful tools and carefully built systems that support that decision.
Managers must be able to accept risks and tolerate failures because the carefully built systems are made to make predictions to support a product decision. These predictions may not take into account the unexpected circumstances that could be encountered. Human errors may also cause issues that the managers need to encounter professionally.
- Identify the benefits associated with manufacturability and value engineering.
Manufacturability and value engineering has the following benefits:
- It reduces the complexity in a product
- Has positive environmental implications
- It adds to the standardization of components.
- It helps in improving the job design
- It helps in improving the safety of the working environment.
- 9. Identify the 7 steps involved in building the house of quality.
Following are the 7 steps involved in building the house of quality:
- List customer requirements (What’s)
- List technical descriptors (How’s)
- Develop a relational matrix between What’s and How’s
- Develop an interrelationship Matrix between How’s
- Competitive assessment
- Develop prioritized customer requirements
- Develop prioritized technical descriptors.
- Identify the external product development strategies; describe each in a sentence or two.
Following is the description of the product development strategies:
- Alliances: These strategies help organizations benefit from one another’s strength but remain independent.
- Joint ventures: These strategies are in the form of combined ownerships. They result in the joint ownership of product and services.
- Purchasing technology: This strategy is used to acquire other firms who already possess the technology that the acquiring firm is in need of.
- Identify and briefly describe the three process regions from PCN analysis.
The three process regions are:
- Direct Interaction: These processes involve the interaction between different participants for different resources.
- Surrogate Interaction: When one participant is utilizing the soft or hard resources of another participant.
- Independent Processing: When the participant of a process region enjoy full command over the required resources.