After reading this article you will learn about the concepts and input output model of production system. Concept of Production System: The production system is a part of a larger system - the business firm. The production system can be viewed as a framework or skeleton of activities within which the creation of value can occur. Briefly, the difference between [...]
After reading this article you will learn about:- 1. Definition and Concept of Product Planning 2. Need For Product Planning 3. Constituents. Definition and Concept of Product Planning: Product planning may be defined as ― Evaluation of the range, mix, specification and pricing of existing and new products in relation to present and future market requirements and competition; planning of [...]
After reading this article you will learn about the requirements of product design and factors affecting it. Requirements (or Considerations) of a Good Product Design: It is not possible to specify exactly what constitutes a good design, but the essential requirements are that it should bring: (a) In order to achieve customer satisfaction: The product should function correctly. It should [...]