Product life cycle

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Defining the Relationship between Product Life Cycle and Project Life Cycle

Defining the Relationship between Product Life Cycle and Project Life Cycle

Many organizations are aware of the interaction between their product life cycle and their project life cycle. The relationship between them is rarely formally defined. When it comes to process definition often the processes for a product life cycle and a project life cycle are defined separately. This can lead to conflict on both product management and project management side because of misperception of what is in place (or can be known) and what should be in place (what is expected to be known).
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Considering Product Life Cycle Cost Purchasing Strategy for Solving Vendor Selection Problem s

Considering Product Life Cycle Cost Purchasing Strategy for Solving Vendor Selection Problem s

The framework of product life cycle (PLC) cost analysis is one of the most important evaluation tools for a contemporary high-tech company in an increasingly competitive market environment. The PLC-purchasing strategy provides the framework for a procurement plan and examines the sourcing strategy of a firm. The marketing literature emphasizes that ongoing technological change and shortened life cycles are important elements in commercial organizations. From a strategic viewpoint, the vendor has an important position between supplier, buyer and manufacturer. The buyer seeks to procure the products from a set of vendors to take advantage of economies of scale and to exploit opportunities for strategic relationships. However, previous studies have seldom considered vendor selection (VS) based on PLC cost (VSPLCC) analysis. The purpose of this paper is to solve the VSPLCC problems considering the situation of a single-buyer-multiple-supplier. For this issue, a new VSPLCC procurement model and solution procedure are derived by this paper to minimize net cost, rejection rate, late delivery and PLC cost subject to vendor capacities and budget constraints. Moreover, a real case in Taiwan is provided to show how to solve the VSPLCC procurement problem.
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Reverse food logistics during the product life cycle

Reverse food logistics during the product life cycle

Reverse logistics is a relatively new business concept and firms tend to dedicate their assets and resources on the forward operations, often overlooking reverse logistics operations and the value they can generate (Bernon, Rossi and Cullen, 2010). Forward logistics strategies cannot be applied to reverse logistics due to the enormous differences between them. Reverse logistics are hard to forecast, require more distribution points and specialised equipment, packaging is often damaged, pricing is vague, product life cycle is not determined, and transparency and traceability are low (Vaidyanathan and Yadong, 2007; Pokharel and Mutha, 2009). The lack of strategic view of reverse logistics limits even further the ability of the companies to respond effectively to customer demands and create value for money. Petersen and Kumar (2009) estimated return rates to be greater than 25% of total sales which accounts for approximately $100 billion in lost sales in US and a reduction in profits by 3.8% per retailer or manufacturer. The strong drive for reverse logistics is fuelled by current patterns of customer behaviour which result in volatile food markets and shorter product life cycles. Beyond returns of faulty goods, liberal returns policies shape competition in many markets including online retailing, which is another indicator of a growing demand for reverse logistics.
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Development of product life-cycle cost analysis tool

Development of product life-cycle cost analysis tool

Life cycle cost analysis appears to be a useful approach to a comprehensive assessment of economic, environmental and social impacts of the life cycle of a product. It is necessary to realize the importance of costs throughout the full life cycle of a product in order to adopt measures to optimize the product value in relation to the financial resources used. Literature also increasingly emphasizes that rapid technological change and shortened life cycles have made product life cycle cost analysis critical to organizations (Ray and Schlie, 1993; Barfield et al., 1994; Murthy and Blischke, 2000).
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Document and process transformation during the product life cycle

Document and process transformation during the product life cycle

When we are speaking about business support with information technology, we think about any piece of software, tool or method that is needed to provide, handle and manage information that is used to keep the business running or even more as a product of the business itself. This also includes aspects which only appear over time, i.e. within different levels of product development in the product life cycle. This is important for the design of document and process management systems. They have to be designed to support structural changes in documents and classes of documents. We observed this in our environment and recognized several problems:
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PRODUCT LIFE CYCLE MANAGEMENT OF SPIN-TUB. “CASE STUDT”

PRODUCT LIFE CYCLE MANAGEMENT OF SPIN-TUB. “CASE STUDT”

The Product Life Cycle (PLC) concept is a well-known marketing strategy and planning tool. The concept is based on a simple biological analogy of stages over a product’s “life,” which is intuitively appealing, but unfortunately has limited utility in practice. For such a prominent marketing tool, the lack of both a focus on consumers and a theoretical basis is surprising. Diffusion of innovation models and theory offer considerable promise to provide a theoretical basis for the PLC. To date, diffusion models have been limited to explaining and forecasting PLC sales patterns.. However, even if a company actually wishes innovate its processes for improving the way to account for project management, it will face relevant difficulties to deal with different guidelines, tools and methods currently addressing the matter from various points of view. The purpose of this project is to review literature on PLM from an operational point of view with the objective to help companies to answer to the main market needs .
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Production Management II. Product Life-Cycle Management II

Production Management II. Product Life-Cycle Management II

Product Data Management (PDM) describes the management and classification of design data and Specifications for an engineered product, and the management of change to this information. PDM is supported by various Product Data Technologies, such as STEP. Product Life-cycle Management (PLM) describes the management and control of all product-related information over the entire product and asset life cycle

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Managing product life cycle in the auto industry: evaluating carmakers effectiveness

Managing product life cycle in the auto industry: evaluating carmakers effectiveness

Managing product life-cycle in the auto industry: evaluating carmakers effectiveness Volpato, Giuseppe and Stocchetti, Andrea Ca’ Foscari University, Ca’ Foscari Department of Management[r]

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UNFOLDING THE SPA INDUSTRY: SPA BUSINESS MODELS TROUGH THE PRODUCT LIFE CYCLE

UNFOLDING THE SPA INDUSTRY: SPA BUSINESS MODELS TROUGH THE PRODUCT LIFE CYCLE

This article pursues inspiring theory building that helps in the understanding of spas. The industry’s life cycle is subject to examination to ascertain its predominant business model. Employed methodologies are literature review, study of a sample of European and American spas, and case study research on a European spa company. The amenity spa is singled out as the prevalent business model: its value proposition offers a more comprehensive experience than the traditional destination spa. The consequences of the present model’s choices: high amortization and fixed costs, besides market confusion, are highlighted as the industry enters its early maturity stage, after two decades of growth. Future prospects are optimistic, though, due to the linkage of spas with well-rooted social trends, provided incumbents fine-tune their competitive strategies and implement more efficient operations. The spa industry’s partial nonconformity to the product life cycle theory remains unresolved and will require further research.
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Mediating Customer Relationship Management On The Effect Of Incremental Innovation On Product Life Cycle

Mediating Customer Relationship Management On The Effect Of Incremental Innovation On Product Life Cycle

The research findings support several previous researches. Firstly, it is in line with Bashir & Khawaja (2013) in which there were relationships among customer relationship, customer satisfaction, product life cycle. Secondly, the results of this study strengthen a study by Janezka et al. (2016) and Janka et al. (2017) in which the implementation of e-CRM affected product life cycle. Besides, it is in line with Lan (2017) in which the implementation electronic customer relationship management (e-CRM) on E- commerce Company contributed to the extending of product life cycle. Besides, it is in line with Matsumoto et al. (2017) in which the implementation of incremental innovation affected Product Life Cycle. Also, it is in line with the opinion of Madson, D. & Madson, D. (2016) stating that customer relationship management influenced significantly product life cycle of fashion products. Even, it is similar to idea of Nunes et al. (2017) showing that customer relationship management extended product life cycle of agricultural product. In addition, it strengthens the research findings by Pohludka, M. & Štverková, H. (2019) stating that practice of CRM Implementation impacted the product life cycle of Small and Medium Sized Enterprises product. Interestingly, this research findings also support the idea of Quresy et al. (2016) in which the customer relationship management and incremental innovation contributed to competitive advantage and increased product life cycle. Additionally, similar to opinion of Rayna & Striukova (2016), incremental innovation can extend product life cycle. It also support the idea of Restuccia et al. (2015) showing that product life cycle Management should be concerned to innovation and customer management. Therefore, involvement of distributor
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Investigation of Product Life Cycle of Small Craft

Investigation of Product Life Cycle of Small Craft

In Malaysia, there are only some marine companies which perform product life cycle research for their ships due to the lack of awareness and knowledge. At a shipyard, each produced ship is certain with negative effects to the environment, therefore solution is necessary to lessen these effects. This study considered the ship type and size dependent input data for emission modelling.

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Product line variety and innovation along product life cycle in car market: are carmakers’ policies really effective?

Product line variety and innovation along product life cycle in car market: are carmakers’ policies really effective?

To assess different aspects of PLC policies we examined a 21 years historical data series (1984-2004) concerning car sales 2 in three European markets (Italy, France and Germany), car production in European plants and main product features in segment “B” (compact cars), “C” (medium), “D” (upper medium) and “E” (large). Collected data are related to car model and/or car version of a sample of European top-seller brands (Alfa Romeo, Audi, BMW, Citroën, Fiat, Ford, Lancia, Opel Peugeot, Renault, Volkswagen). These brands account for a large part of segment demand share within own segments, although such share has been decreasing in recent years, mainly as a result of “new entry” brands (Toyota, Nissan, Mazda, Suzuki, Chevrolet- Daewoo, Hyunday, etc.). Anyway, since our study focuses on evolution of product strategies and product life cycle we decided to consider only product offers characterized by a persistent presence (at least 20 years long) in each segment. Therefore, considerations developed from now on will be referred to the sample constituted by the mentioned brand. Anyway, at the moment the analysis of some data concerning segment “D” and the whole analysis of segment “E” have not been completed yet.
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Simulation Modeling to Determine Shipment Strategies with Demand Evolution according to Product Life Cycle.

Simulation Modeling to Determine Shipment Strategies with Demand Evolution according to Product Life Cycle.

Ahiska and King (2010) [13] investigates the optimal inventory policies over the life cycle of a remanufacturable product. They have considered a product which is produced by manufacturing or remanufacturing. They were able to find long-run optimal policies through Markov decision analysis and the optimal or near-optimal policy characterizations with practical structure are determined for every life cycle stage under several setup cost configurations. The effects of changes in the demand and return rates on the optimal inventory policies are investigated through these policies. Further, a performance comparison with a PULL strategy is provided. Finite horizon settings were also used to evaluate the performance of these long-run policies. Numerical examples were used to illustrate the importance of frequent policy revision over the product life cycle. They have found that appropriate policy structures over the product life cycle depend on the setup cost structure of the system. The optimal parameter values of the inventory policies are sensitive to changes in the demand and return rates and the cost of an inventory policy is sensitive to the changes in its parameters values. They have recommended revising the inventory policies over the product life cycle anytime a change in the rates occurs.
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A process centred virtual approach to support cost estimating along product life cycle

A process centred virtual approach to support cost estimating along product life cycle

The application of engineering practices and scientific principles to the creation of cost estimates along a product life cycle is one of the basic aspects of Cost Engineering. Cost estimates are used as fundamental criteria to make design decisions in the development stage and also to make business decisions in collaboration between OEMs and their supply chain. The achievement of an estimate requires experience and knowledge of different techniques and methodologies. Key aspects on its creation are the adoption of a cost estimating process, the availability of the needed data and the proper management of the information used during the process. The collaboration between the OEM and its supplier can be facilitated by having a better common understanding of how the cost estimates have been created. The cost estimating process used is then a fundamental piece of trust. In this context, V-CES project has developed a set of virtual tools and services around cost estimating processes to support the creation of cost estimates, the improvement of competences of the Cost Engineering Community, and the common understanding on cost between OEMs and their supply chain. The main purpose of this paper is to present the research conducted in the definition of cost estimating processes and the virtual solutions developed around them.
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MARKETING STRATEGIES OF SMEs BASED ON PRODUCT LIFE CYCLE – A STUDY AMONG SMEs IN KOSOVO

MARKETING STRATEGIES OF SMEs BASED ON PRODUCT LIFE CYCLE – A STUDY AMONG SMEs IN KOSOVO

For SMBs in Kosovo the maturity stage PLC's deals as crucial phase for the success of the enterprise. They think that this is the period when enterprises are distinguished successful business with those which are improvising and looking at any situation requiring market gains momentum. The latter also characterized by lack of vision for their companies and have not clear what is the basis on which the industry thinks to develop their business in the future. On the other hand, SMBs in Kosovo that have clear vision and are strongly established for the industry in which they are to grow and doing business in the future, the maturity stage of product life cycle scrambling to end. Despite the fact that at this stage marked decline in profits (although the volume of sales marks stability), serious SMBs in Kosovo continue on additional costs in different forms of promotion. Most practiced form of SMBs in Kosovo is advanced sales Kosovo, like different forms of bonuses and other forms of growth product attributes.
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Optimum technology product life cycle technology innovation investment - Using compound binomial options

Optimum technology product life cycle technology innovation investment - Using compound binomial options

This paper utilizes a more flexible management method, the compound binomial options, to construct an investment strategy model. This paper takes into account the circumstance that confronts the policy maker: the changes of external environment, that is, the uncertainty of GDP growth, which affects consumer purchasing power, which in turn affects business revenues. This paper divides the product life cycle based on its characteristics into three stages: introductory, growth, and maturity, and explores the decision making process of whether to invest in technology innovation: product innovation in the introductory period, manufacturing innovation in the growth period, and business innovation in the maturity period. The strategic principle of this model is that only after the investment of the 1st stage introductory period (product innovation) is made, the option to invest in the next stage will become available; after entering the 2nd stage growth period (manufacturing innovation), the investment of the 3rd stage maturity period (business innovation) will be considered. This paper uses this model to assess the optimal investment strategy of each stage and the project values as well as options premiums of the decision-making points.
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Modeling of the Shrinking Product Life Cycle

Modeling of the Shrinking Product Life Cycle

The proposed study throws light on the drawbacks of the earlier proposed product life cycle which has five phases. It has been observed that most of the organizations are spending lots of money on research and development to pro- vide innovative products to its customers, therefore life of products has shrunk. Even the companies themselves are shrinking the life cycle of their products by introducing the products at a rapid phase. This study focuses on the introduc- tion of innovative products at a very rapid pace along with the dynamic business environment. This paper suggests that the life cycle of the most of products has been reduced to three phases only, namely, growth, maturity and decline. Al- though the product life cycle is still a relevant concept, it does not have all the five phases and should be studied considering only three phases. This paper also proposes a mathematical model for the products which will have these three phases in their life cycle. There is a requirement of balancing demand and supply to get the optimal yield from the product. The numerical illustrations have also been provided to prove the usage of the model.
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Managing the Total Product Life Cycle

Managing the Total Product Life Cycle

The most pressing issue that many Med Device makers are facing in product development started just over a decade ago. In 1997, the US Federal Drug Administration (FDA) presented the ‘Waterfall’ model as a tool for introducing new product design controls. Although its usefulness in practice is limited, many manu- facturers continue to see Waterfall as the de facto model for creating complex devices. In recent years, however, these same regulators have encouraged device manufacturers to shift from this rigid model to the more suitable Total Product Life Cycle (TPLC) model.
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The maintenance Cost Allocation in Product Life Cycle

The maintenance Cost Allocation in Product Life Cycle

There are developed four main different ways of per- forming LCC depending on the amount of resources avail- able, the time available, the degree of accuracy and other aspects. This study utilizes a combination of product life cycle analysis, advanced modern costing methods and regression data analysis processing for the product main- tenance costs calculations in its life cycle. The combination is necessary for solving the research task; life cycle costs analysis considers only product maintenance costs in this article. In this article we use life time as a cost driver help- ing us to allocate the maintenance costs between different trucks in their different life time.
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Open Source at Microsoft. Aras Drives Performance in Product Life-Cycle Processes

Open Source at Microsoft. Aras Drives Performance in Product Life-Cycle Processes

Aras Innovator requires minimal infrastructure to run—Microsoft Windows Server® 2003 with Microsoft .NET, and SQL Server 2005—and also provides flexible options to integrate with the 2007 Microsoft Office system and Microsoft server products such as Microsoft Office SharePoint Server 2007. Because Aras Innovator is certified as Microsoft .NET Connected and uses open standards–based XML and SOAP Web services technologies, integrating the software is simple. Data can be easily exchanged with existing enterprise resource planning (ERP), customer relationship management (CRM), product data management (PDM), and other legacy business systems.
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