Asf - The product life cycle
5 important questions on Asf - The product life cycle
What is the definition of Product Life Cycle?
What is the definition of Time to market?
TTM is important for the competitive sucess of many companies because: (4)
- Competitive advantage of getting the market sooner
- premium prices early in life cycle
- faster break-even on development investment and lower financial risk
- greater overall profits and higher return on investment
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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The key process requirements for rapid TTM are (7):
- Clear understanding of customer needs at the start of the project and stability in product requirements or specifications
- a characterized, optimized product development process
- a realistic project plan based on this process
- availability of needed resources to support the project and use of full-time, dedicated personnel
- early involvement and rapid staffing building-up to support the parallel design of product and process
- virtual product development including digital assembly modelling and early analysis and simulation to minimize time-consuming physical mock-ups and testing
- design re-use and standardization to minimize the design content of a project
Two approaches when expanding the concept of the PLC to international markets
- International product life cylce - a macroeconomic approach
- PLCs across countries - a microeconomic approach
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
