Explain product life cycle in detail. As the product move from one phase of life cycle to another the strategies keep on changing. As an operation manager, what strategies will you adopt in each phase of product life cycle in order to make the product successful and profitable?
Breakeven Analysis
Break Even Analysis is a term used in business, cost accounting and economics. It refers to a point where the total cost incurred becomes equal to the total revenue earned. Break Even Analysis determines the number of units to be sold to earn the revenue required to cover the total costs. Total cost is a sum total of fixed and variable costs.
Process analysis
The term process analysis can be defined as breakdown of production process into different phases that converts inputs into output. A series of routine activities are incorporated using organizational resources with a view to achieve operational excellence.
. Explain product life cycle in detail. As the product move from one phase of life cycle to another the strategies keep on changing. As an operation manager, what strategies will you adopt in each phase of product life cycle in order to make the product successful and profitable?
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You have been appointed as a product development specialist at a fast-moving consumer goods company. Mr. John who is currently the head of the supply chain management department has recently been experiencing continuous issues with one of his products. Your task as a product development specialist is to discuss the product life cycle with a diagram and explain how the value chain proposition can be achieved.