1) The document discusses product portfolio management and its importance in the sales and operations planning (S&OP) process. It notes that while product innovation is common, effective product portfolio management is often underutilized in S&OP.
2) Product portfolios are in a constant state of flux, with new products, renovations, and discontinuations occurring regularly. This level of change puts pressure on supply chain operations.
3) The document argues that product portfolio management should be a key step in the S&OP process, bringing together discussions around innovation, commercialization, and product life cycles. However, it is often missing from real-world S&OP implementations.
Warehouse logistics involves planning, organizing, and managing all operations within a warehouse. This includes inventory management, shipping and receiving, safety policies, and human resources. Effective warehouse logistics is key to running warehouse operations smoothly. Implementing a warehouse management system is important for improving warehouse logistics by providing real-time inventory visibility, optimizing processes, and increasing efficiency. However, warehouse logistics are influenced by human factors like employee training and changes within the physical warehouse, so ongoing adaptation is needed.
Receiving involves confirming orders, determining costs, and moving items efficiently to storage. Proper receiving includes good labeling and tracking vendor quality. The best receiving practices are cross-docking, scheduling, pre-receiving, and receipt preparation to minimize touches and costs.
This document discusses the benefits of implementing an integrated sales and operations planning (S&OP) process. It provides a case study of a chemical company that improved forecast accuracy from 20% to 38%, reduced inventory days of supply, and increased production plan adherence and financial forecast accuracy through S&OP. Regular S&OP meetings aligned business, finance, and supply chain plans, resulting in improved visibility, service levels, and financial performance.
efficiency in supply chain & ware hosingRahul kalyani
This document discusses efficiency in supply chain management and warehousing. It defines supply chain management and warehousing, and identifies factors that make them effective. For supply chain management, key factors include organizational structure, distribution network optimization, information sharing, and relationship building. For warehousing, factors include maximizing space utilization, adopting technology like RFID, organizing workstations, optimizing labor, and streamlining order fulfillment. The document contrasts traditional and advanced approaches to supply chain management and warehousing.
Warehouse key performance indicators and targets. By Ravindran Raghavan.
What are the KPIs for a warehouse operation? How to measure them? How to optimise them?
KPIs for Receiving, Put-away, Storage, Pick-n-pack and Shipping
Measuring performance
The document discusses demand planning in supply chain management. It covers key topics like demand forecasting techniques, sources of demand variability, and collaboration approaches. Demand forecasting involves analyzing trends, seasonality, random variation, and cycles. Qualitative and quantitative forecasting methods are described, including naive, moving averages, and exponential smoothing. Collaboration approaches like information sharing, continuous replenishment, vendor-managed inventory, and CPFR aim to reduce the bullwhip effect through better demand signal synchronization.
Warehouse logistics involves planning, organizing, and managing all operations within a warehouse. This includes inventory management, shipping and receiving, safety policies, and human resources. Effective warehouse logistics is key to running warehouse operations smoothly. Implementing a warehouse management system is important for improving warehouse logistics by providing real-time inventory visibility, optimizing processes, and increasing efficiency. However, warehouse logistics are influenced by human factors like employee training and changes within the physical warehouse, so ongoing adaptation is needed.
Receiving involves confirming orders, determining costs, and moving items efficiently to storage. Proper receiving includes good labeling and tracking vendor quality. The best receiving practices are cross-docking, scheduling, pre-receiving, and receipt preparation to minimize touches and costs.
This document discusses the benefits of implementing an integrated sales and operations planning (S&OP) process. It provides a case study of a chemical company that improved forecast accuracy from 20% to 38%, reduced inventory days of supply, and increased production plan adherence and financial forecast accuracy through S&OP. Regular S&OP meetings aligned business, finance, and supply chain plans, resulting in improved visibility, service levels, and financial performance.
efficiency in supply chain & ware hosingRahul kalyani
This document discusses efficiency in supply chain management and warehousing. It defines supply chain management and warehousing, and identifies factors that make them effective. For supply chain management, key factors include organizational structure, distribution network optimization, information sharing, and relationship building. For warehousing, factors include maximizing space utilization, adopting technology like RFID, organizing workstations, optimizing labor, and streamlining order fulfillment. The document contrasts traditional and advanced approaches to supply chain management and warehousing.
Warehouse key performance indicators and targets. By Ravindran Raghavan.
What are the KPIs for a warehouse operation? How to measure them? How to optimise them?
KPIs for Receiving, Put-away, Storage, Pick-n-pack and Shipping
Measuring performance
The document discusses demand planning in supply chain management. It covers key topics like demand forecasting techniques, sources of demand variability, and collaboration approaches. Demand forecasting involves analyzing trends, seasonality, random variation, and cycles. Qualitative and quantitative forecasting methods are described, including naive, moving averages, and exponential smoothing. Collaboration approaches like information sharing, continuous replenishment, vendor-managed inventory, and CPFR aim to reduce the bullwhip effect through better demand signal synchronization.
Maximizing the productivity of your warehouse is an essential part of any business. Read these tips on warehouse shelving and layout to increase your productivity.
The document provides an overview of supply chain management (SCM). It defines SCM as the flow of materials from suppliers to customers. Key aspects of SCM discussed include procurement, manufacturing, distribution, inventory management, warehousing, and transportation. The document also summarizes SCM software like SAP and Oracle, which help plan and manage supply chain operations.
Comparative Analysis of Promotional Strategy of Central and Shoppers StopAjit gupta
This document discusses the promotional plans and campaigns of Central and Shoppers Stop for the months of January to May 2013. It provides details of the business and marketing objectives, promotional themes, offerings, and engagement plans for Central during this period. It also describes the product lines and sales promotions of Shoppers Stop. The document further analyzes a survey of customers visiting both the stores and provides recommendations to improve Central's brand image and customer experience based on the findings.
This document discusses packaging from a logistical perspective. It defines packaging as protecting, containing, identifying, promoting, and facilitating transportation and use of a product. Logistical packaging focuses on distribution objectives like optimal space utilization, efficient material handling, and cost optimization for transportation, storage, and handling. Logistical packaging functions include protection, warehousing, transportation, material handling, and providing information. Packaging can be at the primary, secondary, or tertiary level. Common packaging materials include plastic, paper, wood, metal, glass, jute and cotton. Costs associated with packaging include materials, labor, printing, tools/machinery, and capital.
This document describes the DynMX XYZ Inventory Management tool which classifies products based on their stock value and turnover. It is a 4-step process that analyzes inventory data to provide insights into a company's product portfolio and inventory management strategy. The results include a table classifying each article based on its value and turnover, and a coefficient of variation showing inventory predictability. This helps companies make decisions about warehouse locations, product purchasing, and inventory levels. The tool is available as an Excel add-in and Act2Vision can also perform the analysis for companies that lack time.
This document provides an overview of different buying systems and inventory management techniques used by retailers. It discusses staple and fashion merchandise buying systems, considerations for determining order quantities, forecasting demand, calculating order points, open-to-buy planning, allocating merchandise to stores, vendor evaluation, and the retail inventory method. Key aspects covered include basic stock lists, buffer stock, exponential smoothing, ABC analysis, sell-through analysis, weighted vendor evaluations, and the steps to use the retail inventory method to determine inventory value.
nventory management
,
types of inventories
,
functions of inventory
,
objective of inventory control
,
effective inventory management
,
inventory counting systems
,
key inventory terms
,
economic order quantity models
,
assumptions of eoq model
,
deriving the eoq
,
economic production quantity assumptions
,
single period model
,
fixed-interval disadvantages
,
when to reorder with eoq ordering
Lean supply chain management is challenging because so much happens outside the four walls. Time compression and inventory velocity are important in achieving end-to-end inventory speed. The benefits include higher inventory turns, less working capital, less cash burn, better cash flow, improved revenue yield maximization, and less write downs.
Inventory begins upstream where suppliers are and should flow.
The document summarizes a seminar on supply chain planning theory and best practices. It includes an agenda for the event covering topics like demand planning, replenishment planning, production planning, buffer stocks, and industry trends. Recent trends discussed include increased collaboration across supply chain partners and a movement toward centralized planning over decentralized approaches. The presentation aims to explain key supply chain planning concepts and challenges through case studies and examples.
The "milk run" distribution method involves making regular rounds to multiple nearby suppliers and customers, either collecting goods from several suppliers to deliver to one customer, or collecting from one supplier to deliver to multiple customers. It refers to efficiently consolidating shipments along a recurring route between vendors and recipients in close geographic proximity into a single delivery, lowering transport costs compared to individual trips.
Warehousing involves storing products between the point of origin and consumption. Warehouses play an important role in logistics systems by providing time and place utility. The main functions of warehouses include transportation consolidation, product mixing, docking, service, and protecting against contingencies. There are different types of warehouses like public, private, contract, and multi-client. Design considerations include warehouse space requirements. Principles of warehouse layout design and efficient operations aim to provide timely customer service while minimizing costs. Key warehouse processes involve receiving, storage, order picking, and shipping.
This document discusses fundamentals of logistics and supply chain management. It addresses key aspects of logistics systems including warehouse management, inventory management, transportation management, and integration with suppliers and customers. Specific areas covered include receiving, putaway, inventory tracking, order fulfillment, shipping, transportation routing and optimization, performance tracking, and questions executives may ask about logistics. The document emphasizes how an integrated logistics platform can increase efficiency, reduce costs, and improve metrics like fill rates and inventory turns.
Group Maverick presented a case study on Seven-Eleven Japan. Seven-Eleven Japan is a convenience store chain founded in 1973 with over 50,000 stores worldwide today, making it the largest convenience store in the world. The presentation analyzed issues with Seven-Eleven Japan such as its reliance on perishable goods and technology as well as a lack of products for women customers. Recommendations included expanding product offerings for women and focusing less on perishable items.
Aggregate planning determines production levels, inventory, capacity, and other factors over a time horizon of 1-18 months. The goal is to maximize profit by effectively using existing resources to meet forecasted demand. Key inputs include demand forecasts and production costs. The process specifies operational parameters for each period and identifies the plan that maximizes profit given constraints like capacity limits. Common strategies include chasing demand by varying capacity, using inventory to level production, or utilizing time flexibility through overtime.
Retail inventory management involves maintaining appropriate stock levels to meet demand without over-purchasing. An inventory management plan guides purchasing, pricing, receiving, counting, and tracking inventory. Key aspects of retail inventory management include classifying items into A, B, and C categories based on value and cost; using techniques like economic order quantity, reorder points, and safety stock; accounting for inventory using FIFO or LIFO; analyzing inventory turnover and forecasting demand. Effective retail inventory management relies on people, processes, technology, understanding sales patterns, leveraging automation, and focusing on customers.
An ERP system can improve production planning and supply chain management by integrating key business functions. The document discusses how an ERP system allows a company to create a sales forecast, production plan, and master production schedule. It then uses this information to generate material requirements plans to efficiently procure raw materials and schedule production. By sharing information across departments, an ERP system aims to minimize costs and better coordinate activities throughout the supply chain.
Enhance your audiences knowledge with this well researched complete deck. Showcase all the important features of the deck with perfect visuals. This deck comprises of total of thirty four slides with each slide explained in detail. Each template comprises of professional diagrams and layouts. Our professional PowerPoint experts have also included icons, graphs and charts for your convenience. All you have to do is DOWNLOAD the deck. Make changes as per the requirement. Yes, these PPT slides are completely customizable. Edit the colour, text and font size. Add or delete the content from the slide. And leave your audience awestruck with the professionally designed S And Op PowerPoint Presentation Slides complete deck. http://bit.ly/38gtxh2
The document discusses Sales & Operations Planning (S&OP), which is a process that balances demand and supply to improve coordination between sales, production, and inventory. It describes S&OP's benefits, structure, and implementation. Case studies show how S&OP helped companies manage seasonality, demand fluctuations, and new product launches. Successful implementation requires support from top management and changes in planning behaviors and processes over 8-12 months.
MRP (Material Requirements Planning) is a system used to plan for materials needs based on production schedules and inventory levels. It was developed in the 1960s and helps ensure availability of materials for production and delivery to customers while maintaining low inventory levels. The MRP process involves using a master production schedule, bill of materials, and inventory records to generate reports showing what materials are needed, how many, and when to support production needs. It aims to balance optimizing service levels and minimizing costs and capital tied up in inventory.
The document discusses the sales and operational planning (S&OP) process. It provides an overview of S&OP, including definitions, objectives, critical success factors, challenges, benefits, leaders, policies, and implementation. S&OP is described as a monthly executive-level process that reconciles supply and demand plans, ties operations to financial plans, and sets strategy. The goals are to improve coordination, communication, inventory management, and meet customer demand profitably.
Stakeholder Management for Product Managers - ProductTank ParisJean-Yves SIMON
How to manage your Stakeholders, mainly internally when you're a Product Manager working in a medium to large organization. Tips on how to be efficient and recognized within your organization.
Maximizing the productivity of your warehouse is an essential part of any business. Read these tips on warehouse shelving and layout to increase your productivity.
The document provides an overview of supply chain management (SCM). It defines SCM as the flow of materials from suppliers to customers. Key aspects of SCM discussed include procurement, manufacturing, distribution, inventory management, warehousing, and transportation. The document also summarizes SCM software like SAP and Oracle, which help plan and manage supply chain operations.
Comparative Analysis of Promotional Strategy of Central and Shoppers StopAjit gupta
This document discusses the promotional plans and campaigns of Central and Shoppers Stop for the months of January to May 2013. It provides details of the business and marketing objectives, promotional themes, offerings, and engagement plans for Central during this period. It also describes the product lines and sales promotions of Shoppers Stop. The document further analyzes a survey of customers visiting both the stores and provides recommendations to improve Central's brand image and customer experience based on the findings.
This document discusses packaging from a logistical perspective. It defines packaging as protecting, containing, identifying, promoting, and facilitating transportation and use of a product. Logistical packaging focuses on distribution objectives like optimal space utilization, efficient material handling, and cost optimization for transportation, storage, and handling. Logistical packaging functions include protection, warehousing, transportation, material handling, and providing information. Packaging can be at the primary, secondary, or tertiary level. Common packaging materials include plastic, paper, wood, metal, glass, jute and cotton. Costs associated with packaging include materials, labor, printing, tools/machinery, and capital.
This document describes the DynMX XYZ Inventory Management tool which classifies products based on their stock value and turnover. It is a 4-step process that analyzes inventory data to provide insights into a company's product portfolio and inventory management strategy. The results include a table classifying each article based on its value and turnover, and a coefficient of variation showing inventory predictability. This helps companies make decisions about warehouse locations, product purchasing, and inventory levels. The tool is available as an Excel add-in and Act2Vision can also perform the analysis for companies that lack time.
This document provides an overview of different buying systems and inventory management techniques used by retailers. It discusses staple and fashion merchandise buying systems, considerations for determining order quantities, forecasting demand, calculating order points, open-to-buy planning, allocating merchandise to stores, vendor evaluation, and the retail inventory method. Key aspects covered include basic stock lists, buffer stock, exponential smoothing, ABC analysis, sell-through analysis, weighted vendor evaluations, and the steps to use the retail inventory method to determine inventory value.
nventory management
,
types of inventories
,
functions of inventory
,
objective of inventory control
,
effective inventory management
,
inventory counting systems
,
key inventory terms
,
economic order quantity models
,
assumptions of eoq model
,
deriving the eoq
,
economic production quantity assumptions
,
single period model
,
fixed-interval disadvantages
,
when to reorder with eoq ordering
Lean supply chain management is challenging because so much happens outside the four walls. Time compression and inventory velocity are important in achieving end-to-end inventory speed. The benefits include higher inventory turns, less working capital, less cash burn, better cash flow, improved revenue yield maximization, and less write downs.
Inventory begins upstream where suppliers are and should flow.
The document summarizes a seminar on supply chain planning theory and best practices. It includes an agenda for the event covering topics like demand planning, replenishment planning, production planning, buffer stocks, and industry trends. Recent trends discussed include increased collaboration across supply chain partners and a movement toward centralized planning over decentralized approaches. The presentation aims to explain key supply chain planning concepts and challenges through case studies and examples.
The "milk run" distribution method involves making regular rounds to multiple nearby suppliers and customers, either collecting goods from several suppliers to deliver to one customer, or collecting from one supplier to deliver to multiple customers. It refers to efficiently consolidating shipments along a recurring route between vendors and recipients in close geographic proximity into a single delivery, lowering transport costs compared to individual trips.
Warehousing involves storing products between the point of origin and consumption. Warehouses play an important role in logistics systems by providing time and place utility. The main functions of warehouses include transportation consolidation, product mixing, docking, service, and protecting against contingencies. There are different types of warehouses like public, private, contract, and multi-client. Design considerations include warehouse space requirements. Principles of warehouse layout design and efficient operations aim to provide timely customer service while minimizing costs. Key warehouse processes involve receiving, storage, order picking, and shipping.
This document discusses fundamentals of logistics and supply chain management. It addresses key aspects of logistics systems including warehouse management, inventory management, transportation management, and integration with suppliers and customers. Specific areas covered include receiving, putaway, inventory tracking, order fulfillment, shipping, transportation routing and optimization, performance tracking, and questions executives may ask about logistics. The document emphasizes how an integrated logistics platform can increase efficiency, reduce costs, and improve metrics like fill rates and inventory turns.
Group Maverick presented a case study on Seven-Eleven Japan. Seven-Eleven Japan is a convenience store chain founded in 1973 with over 50,000 stores worldwide today, making it the largest convenience store in the world. The presentation analyzed issues with Seven-Eleven Japan such as its reliance on perishable goods and technology as well as a lack of products for women customers. Recommendations included expanding product offerings for women and focusing less on perishable items.
Aggregate planning determines production levels, inventory, capacity, and other factors over a time horizon of 1-18 months. The goal is to maximize profit by effectively using existing resources to meet forecasted demand. Key inputs include demand forecasts and production costs. The process specifies operational parameters for each period and identifies the plan that maximizes profit given constraints like capacity limits. Common strategies include chasing demand by varying capacity, using inventory to level production, or utilizing time flexibility through overtime.
Retail inventory management involves maintaining appropriate stock levels to meet demand without over-purchasing. An inventory management plan guides purchasing, pricing, receiving, counting, and tracking inventory. Key aspects of retail inventory management include classifying items into A, B, and C categories based on value and cost; using techniques like economic order quantity, reorder points, and safety stock; accounting for inventory using FIFO or LIFO; analyzing inventory turnover and forecasting demand. Effective retail inventory management relies on people, processes, technology, understanding sales patterns, leveraging automation, and focusing on customers.
An ERP system can improve production planning and supply chain management by integrating key business functions. The document discusses how an ERP system allows a company to create a sales forecast, production plan, and master production schedule. It then uses this information to generate material requirements plans to efficiently procure raw materials and schedule production. By sharing information across departments, an ERP system aims to minimize costs and better coordinate activities throughout the supply chain.
Enhance your audiences knowledge with this well researched complete deck. Showcase all the important features of the deck with perfect visuals. This deck comprises of total of thirty four slides with each slide explained in detail. Each template comprises of professional diagrams and layouts. Our professional PowerPoint experts have also included icons, graphs and charts for your convenience. All you have to do is DOWNLOAD the deck. Make changes as per the requirement. Yes, these PPT slides are completely customizable. Edit the colour, text and font size. Add or delete the content from the slide. And leave your audience awestruck with the professionally designed S And Op PowerPoint Presentation Slides complete deck. http://bit.ly/38gtxh2
The document discusses Sales & Operations Planning (S&OP), which is a process that balances demand and supply to improve coordination between sales, production, and inventory. It describes S&OP's benefits, structure, and implementation. Case studies show how S&OP helped companies manage seasonality, demand fluctuations, and new product launches. Successful implementation requires support from top management and changes in planning behaviors and processes over 8-12 months.
MRP (Material Requirements Planning) is a system used to plan for materials needs based on production schedules and inventory levels. It was developed in the 1960s and helps ensure availability of materials for production and delivery to customers while maintaining low inventory levels. The MRP process involves using a master production schedule, bill of materials, and inventory records to generate reports showing what materials are needed, how many, and when to support production needs. It aims to balance optimizing service levels and minimizing costs and capital tied up in inventory.
The document discusses the sales and operational planning (S&OP) process. It provides an overview of S&OP, including definitions, objectives, critical success factors, challenges, benefits, leaders, policies, and implementation. S&OP is described as a monthly executive-level process that reconciles supply and demand plans, ties operations to financial plans, and sets strategy. The goals are to improve coordination, communication, inventory management, and meet customer demand profitably.
Stakeholder Management for Product Managers - ProductTank ParisJean-Yves SIMON
How to manage your Stakeholders, mainly internally when you're a Product Manager working in a medium to large organization. Tips on how to be efficient and recognized within your organization.
ITIL V3 provides guidance for IT service management and is broken into 5 core publications: Service Strategy, Service Design, Service Transition, Service Operation, and Continual Service Improvement. Each publication contains key principles and processes to help organizations deliver valuable services to customers and achieve business goals. The framework focuses on areas like service portfolio management, service delivery, service support, and using metrics to facilitate continual improvement.
El documento describe el proceso de planificación de ventas y operaciones (S&OP). S&OP es un proceso estratégico mensual que alinea las funciones empresariales para garantizar que los planes de negocio, producción, inventario y finanzas estén coordinados y apoyen la estrategia general de la empresa. El objetivo es asegurar la disponibilidad de recursos para satisfacer la demanda planificada de manera rentable.
Supply chain management aims to efficiently integrate suppliers, manufacturers, warehouses, and stores to minimize costs while meeting customer demands. The objectives are to produce and distribute the right quantities of products to the right locations at the right time. This helps firms face global competition, improve standardization, and satisfy customers while reducing total system costs across the entire supply chain.
This document provides an overview of sales and operations planning (S&OP). S&OP is a collaborative planning process that aligns all business functions to a single plan to meet market demand profitably. It differs from traditional functional planning approaches by taking a holistic view of demand, supply, and financial plans. The S&OP process involves gathering data, demand planning, supply planning, pre-meetings, and executive meetings to align plans and resolve issues. Critical success factors include top management involvement, structured meetings, cross-functional participation, and integrated planning technology. Benefits include improved profitability, inventory management, and communication across business functions.
A supply chain is the network of organizations involved in producing and delivering a product, from raw materials to the end customer. It includes upstream suppliers, internal production and packaging, and downstream distribution centers and retailers. Effective supply chain management coordinates activities across this network to optimize material, information and financial flows. Key goals are reducing costs and uncertainties while improving customer service. Modern supply chains leverage information technology to facilitate coordination and information sharing among partners.
The document provides an overview of product life cycle (PLC) analysis, which describes how sales of a product evolve over time through four distinct stages: introduction, growth, maturity, and decline. It explains the characteristics and appropriate marketing strategies for each stage. For example, during introduction sales are low but advertising is high, while growth focuses on increasing sales and consumer loyalty. The document also cautions that PLC analysis has limitations and provides a case study analyzing the retail coffee industry through the PLC framework.
This chapter discusses the product life cycle and new product development process. It describes the stages of the product life cycle as introduction, growth, maturity, and decline. It also outlines the 7 stages of new product planning: idea generation, product screening, concept testing, business analysis, product development, test marketing, and commercialization. Finally, it examines strategies for the growth, maturity, and decline stages such as developing new uses or finding new customer segments.
The document provides an overview of product planning and development. It discusses key concepts such as defining a product, product classification, branding, packaging, the product life cycle, and introducing new products. The stages of new product development include idea generation, screening, concept development and testing, developing a marketing strategy, business analysis, product development, test marketing, and commercial launch.
The document discusses the life cycle inventory (LCI) stage of life cycle assessment (LCA). LCI involves directly collecting input-output data from the system under study, including materials and resources consumed, energy utilized, and energy and by-products released. It provides sample data from a study on disposable cups that analyzed energy consumption and sources at different stages of the cups' lifecycles.
food science bacteria viruses algae fungi green algae
The word "design" hasn't been frequently utilized in the food sector outside of packaging and advertising. The term "product development" has been used to describe the process of creating a product and has associations with laboratory formulation and sensory panels. The adoption of food product design and the integration of food product design with other fields of design, however, may now have tangible advantages.
In equal partnership with engineers, marketers, and consumer researchers, product design is a crucial component in the process of creating new products (Bleich and Bleich, 1993). All of these elements are combined in the product's technology.
Throughout the PD Process, consumer researchers develop the link between the consumer and the product.
Market analysts do market research and develop the marketing and distribution plans for the market strategies.
Together, the food engineer and technologist conduct product and process research for co-engineering, and they develop the physical distribution and manufacturing processes.
The designer of food products investigates the social and cultural contexts before creating the all-encompassing product.
All of these need to be included from the start of the PD Process. All factors come together when the product idea and design specifications are developed, and as the project moves forward, the participants realize what is required for product design, production, and marketing to suit the needs, wants, and Food Product Development behaviors of customers.
The process of product design is constrained by a set of criteria (product design specification), which include the performance, appearance, cost, and essential and desired product functions (Dasgupta, 1996). Although this is typical in many industrial fields, the food industry is just now starting to
\ accept it. First, a product concept is developed by customers, product designers, and frequently marketers; then, developers and
Between these sections, the project team collaborates. First, they research the market, aiming to translate the demands into more precise phrases in the product brief while also researching the rival goods. Then, in order to develop particular product concepts, they return to the consumers with more clearly defined product kinds. Finally, they incorporate the product concepts into more precise and in-depth product descriptions before asking consumers for their feedback once again.
From the first concept through the final product specifications governing manufacturing and the final product proposition serving as the foundation for marketing, the product concept advances throughout the product development project.
Product Development Key Stages
Ideation
Formulation
Processing
Commercialization
Ideation
Coming up with the original idea is frequently the most challenging step in the product development process. It might be difficult t
What Is the Development of Food Products? The difficult procedure required to release a new or enhanced product onto the market is called product development. This is done in the food sector by creating foods that appeal to the target market and fill in any gaps in their present preferences and demands is called Food product development.
Developing the product concept
The word "design" hasn't been frequently utilized in the food sector outside of packaging and advertising. The term "product development" has been used to describe the process of creating a product and has associations with laboratory formulation and sensory panels. The adoption of food product design and the integration of food product design with other fields of design, however, may now have tangible advantages.
In equal partnership with engineers, marketers, and consumer researchers, product design is a crucial component in the process of creating new products (Bleich and Bleich, 1993). All of these elements are combined in the product's technology.
New products often fail due to misinterpreted market research, overestimated demand, high development costs, poor design, incorrect positioning, insufficient support, and strong competitive responses. Failure rates for new products are estimated between 50-95% in the US and 90% in Europe. While failure is common, truly innovative companies accept it as inevitable for success. Initial failures may lead to later successes if companies identify new uses for failed products. Managing the entire new product development process from idea generation to commercialization is important to improve success rates.
The document discusses the product life cycle, which outlines the typical stages a product goes through from introduction to decline. It identifies five key stages: research, introduction, growth, maturity, and decline. Each stage presents different challenges and opportunities for marketing, financing, manufacturing and more. Examples are provided to illustrate common products at each phase of the life cycle.
This document discusses how adopting sustainable design practices can benefit manufacturers through increased revenues, cost savings, and innovation. It advocates starting with implementing sustainable design in product development, as decisions made there impact the entire product lifecycle. The document promotes using SolidWorks Sustainability software to evaluate products' environmental impacts at each lifecycle stage to guide sustainable design and help manufacturers gain competitive advantages.
Product planning is the process of developing new product ideas, screening them, developing tangible products, and introducing new products to the market. It involves forming product policies and strategies as well as improving existing products and removing unprofitable ones. The key goals of product planning are to maximize profits, satisfy customers, and make best use of company resources. It is a complex process that requires coordination across different departments. The main steps in product planning are exploration of new product ideas, screening ideas, detailed business analysis, product development, test marketing, and commercialization.
The document discusses various marketing strategies for entering new markets as either a pioneer or late entrant. It notes that pioneers typically have significant market share advantages but can lose their lead if they become complacent. Late entrants can succeed through distinctive positioning or by taking advantage of gaps in pioneers' offerings. The strategies discussed include reducing price, improving products/services through niche targeting, entering new geographic markets, and developing new distribution channels.
The marketing mix consists of 4 key elements - product, price, promotion and place. The document defines the levels of a product as the core, actual and augmented product. It explains how the product life cycle helps analyze how products emerge, grow, stabilize and decline over time through the stages of development, introduction, growth, maturity and decline. It also discusses the benefits of having a good product mix and ways to extend the life cycle of a product through various strategies.
The document discusses the product life cycle (PLC) concept in marketing management. It describes the PLC as having four main stages: introduction, growth, maturity, and decline. During each stage, the firm should employ different marketing strategies to build awareness, market share, and profits. Examples are given of products like TVs and discs that demonstrate the different PLC stages. The conclusion emphasizes how understanding and managing products across their lifecycles can improve profitability.
The document discusses the product life cycle, which describes the stages a product goes through from launch to withdrawal from the market. It includes four stages: introduction, growth, maturity, and decline. In the introduction stage, a product is new to the market and growth is slow while marketing costs are high. In the growth stage, sales and profits increase as the product gains market share. Most profits are realized in the maturity stage through established sales. In the decline stage, sales begin to drop off due to saturation or new products, and profits decline. The document emphasizes considering external factors like politics, economics, society and technology when analyzing a product's life cycle stage and strategy.
This document discusses strategies for new product launches and reasons for success or failure. It introduces Rogers' model of diffusion of innovation, which categorizes adopters into innovators, early adopters, early majority, late majority and laggards. The document emphasizes targeting innovators and early adopters to influence later groups. Several factors that influence adoption rates are identified, such as relative advantage and compatibility. Guidelines for product success include distinguishing products, understanding customer needs, and ensuring proper timing and value. Common reasons for product failure include insufficient differentiation, poor quality, weak brand perception and improper launch timing.
I. The document discusses new product development including idea generation, screening, concept development, marketing strategy, business analysis, product development, market testing, and commercialization.
II. It also covers managing new product development through customer-centered and team-based approaches.
III. The document concludes with brief discussions on product decisions and social responsibility as well as international product and services marketing.
This document discusses product portfolio management and the product lifecycle (PLC). It describes the five stages of the PLC as development, introduction, growth, maturity, and decline. A product portfolio manager evaluates where each product sits in the PLC based on metrics like sales and profits. The manager then establishes strategic objectives for the products depending on their lifecycle stage, such as building awareness in introduction or defending market share in maturity. The document also discusses ways to potentially extend the maturity phase, like finding new customers or uses for the product. Maintaining a balanced portfolio with products in different lifecycle stages can help reduce risk.
New Product Development Process And Strategy Powerpoint Presentation SlidesSlideTeam
“You can download this product from SlideTeam.net”
If you have a brilliant idea for the new product launch our new product development process and strategy PowerPoint Presentation is a promising presentation that can portray your thoughts convincingly. When you download this product management PPT slide, you get various designs such as product outline, idea screening, new product introduction, detailed overview, understanding customer needs, internal & external sources of new product, roadmap, category planning, porters five forces model, product lifecycle, introduction stage, growth stage, maturity stage, decline stage, tools & techniques, BCG matrix, Ansoff matrix, empathy map, Kano map, market segmentation, geographic, demographic psychographic, & behavioral segmentation and many more. The new product launch PowerPoint templates can be utilized for few topics like entering a new market, NPD process, product development, product launch, launch strategy, market entry strategy, new product introduction and product marketing. Our New product development process and strategy PPT diagram can make your presentation interesting and captivating. Send all fears flying with our New Product Development Process And Strategy Powerpoint Presentation Slides. They can handle all emerging doubts. https://bit.ly/3bZHYt4
There are three levels of product life cycles: 1) product category, 2) specific product forms within a category, and 3) individual brands. Product category and product form life cycles follow an S-shape pattern, while individual brand life cycles are more erratic due to ongoing marketing decisions. The document discusses strategies for different stages of the product life cycle and how products can be modified or markets changed to enhance sales during the growth and maturity stages.
The document discusses the concept of product life cycle, which describes the typical stages through which successful products pass: market development, market growth, market maturity, and market decline. It explores how understanding these stages can help managers plan for new products, determine what stage existing products are in, and use the concept effectively. Key strategies include pre-planning for each stage, adapting marketing as a product moves through the stages, and replacing declining products with new ones. Understanding a product's current stage and forecasting its future stages allows for strategic decision making.