Product design

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Product Design Innovation is often used to gain

competitive advantage but new products do not remain unique to a company for too long

New products provide great opportunity for profit but there are close alternatives and price competition

Design directly impact company’s success in market, exterior of a product attract customer attention, internal components performance durability give the loyal customer

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Product Design in Service industry A product innovation for a service

company may be a new set of features for insurance policy, or facilities provided by Bank to an account holder

Design of a product or service will win a loyal customer

70% or more product cost comes from its design that establishes Make or buy, material and equipment to be used, standardization and simplification will cut the cost

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Traditional approach to design Product development approach include series of

following steps1. A concept may be developed by marketing to attract a

particular market2. Product development engineers then develop a

preliminary design; prototype3. After selection of product design; decision made

regarding Make or buy4. Process engineers develop production methods, select

necessary equipment5. Purchasers will select qualified suppliers for in house

production6. Quality team will ensure the quality

This series of steps potentially take excessive time, today is time based competition and companies are trying to be fast, a rapid innovator can put several product on trial in market, if trial product is hit than flexible company can easily capture a great market share

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CAD/CAM Speeding the design process, a method is team

design, participants from each section marketing, engineering, production, purchasing and quality work together, to focus on customer needs, low cost manufacturing, @desirable quality

Computer aided design; working with computers while deigning a design can be developed, analyzed and modified. Design can be stored and shared with other concerned.

Its performance can be judged under various loads, several designs can be judged for preliminary tests to make prototypes

Stored data can be used by software to generate commands to prepare automated machines, so much human work and time can be reduced

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Artificial Intelligence Instead of team design there is artificial

intelligence to review a design and recommend improvements. These packages try to reduce components and make it simple to fabricate, Artificial intelligence used by ford motors.