PROJECT SUMMARY (SCENARIO)

PROJECT SUMMARY (SCENARIO) In planning the production system, major decisions are made concerning the design of the product or services as well as the design of the production processes. Entrepreneurs usually formulate new businesses based on a unique product or a service idea. In existing firms, new products or services are introduced when the competition for existing products increases or as existing products approach the end of their product life cycle. Even after a few new products are launched, and even if these products are successful, since they have limited life cycles, companies always seek and consider new product possibilities. If a company continuously monitors new product possibilities, and if there is a product failure among the current products, or if there is a significant change in the product market, then the company can still be in position to release a new product to fill the void. Term project focuses on the design of the products and services. The main topics in this process include: 1. The reasons, trends, and objectives of Product and Service Design 2. The Design Process 3. Research and Development 4. Standardization 5. Product Design 6. Service Design 7. Quality Function Deployment 8. Operations Strategy There aren?t many things more important to an organization than its products and/or services and there is a rather obvious connection between the design of those products and/or services and the organization?s success. Consequently, organizations are vitally concerned about achieving outstanding product and service design so they can compete in today?s global marketplace. The long-term competitiveness of any manufacturing company depends ultimately on the success of its product development capabilities. New product development holds hope for improving market position and financial performance, creating new industry standards and new niche markets, and even renewing the organization. The group is requested to outline how various ideas come through in product design and development processes for any operations whether existed in local or any international company levels. The challenges and benefits derived in its implementation for any company. Although the team members may choose to cover multiple operations management concepts (related to product and service development such as capacity planning, location decisions, forecasting, quality, inventory management, supply chains, JIT etc. if needed) in their report, they are required to focus on one of the concepts in greater detail. The report should cover operations management concepts and decisions at strategic, tactical and operational 5 AUM Academic Projects Academic Year: 2015-2016 levels within/without any organization. The chapter four is the key chapter providing all information, but is not limited, so students will be provided extra material during the semester by course instructor. The quality of the analysis will be dependent on the effort devoted to information search and the planning carried out before the information gathering for product idea. Multiple information sources can be targeted, including web resources (company official website, business news online), corporate documentation, press releases, etc. Final report has to be developed based on APA style (See course syllabus for more details). V. DELIVERABLES & PROJECT MANAGEMENT Deliverable 1 (Week 5): - Form groups of Three to Five students (its subject to change by instructor depend on class size, etc.) and submit names to instructor by the week-1. - Every group is required to determine designing a product (goods or services) that will be studied for the project. A brief overview about the product idea, components, environmental analysis (SWOT, position in the market, competitors and background information) should be highlighted. Limit of text size will be provided in further brief. In addition to it, the report should also include an overview of the aspect(s) of operations management the group will be investigating for this project. - The report at this stage should also include an initial table of contents illustrating the sections and sub-sections that compose the final report. - This deliverable should include a responsibility matrix that shows the proposed role of the group members and their primary responsibilities. - For the products students chose any topic/idea (with permission from instructor). Their product idea should be fictional and open for creativity. - You may look at the Chapter 4 “Product and Service Design” and also provided materials from course instructors. Project work may include relevant pictures, charts and diagrams to illustrate your discussion. The final report however, will be more detailed. - Term project deliverable 1 is a group work, and should be submitted by only one member from the group. Deliverable 2 (Week 9): - A 1500 word report building on the previous submission and indicating overview of the major processes in the product design that you have chosen to do the project (with agreed upon). The report should also discuss how they relate to the concepts we have learned in the class and operations management in general. - The report should cover operations management concepts and decisions at strategic, tactical and operational levels within the organization in product design and development. - Identify the topic within this project which will be analyzed in greater detail and a brief discussion about it. - Report should have a title clearly indicating the main theme of the project. - Term project deliverable 2 is partly individual work; each member should be identified for the responsible sections in the submitted work, but should be submitted by only one member from the group. (main responsibility is on the group leader) Deliverable 3 (Week 14): - The report outline should follow the outline previously submitted. It should start with the „introduction? and „product overview? sections, followed by the suggested headings and subheadings in the outline, and at the end „Conclusion? and „Reference? sections. This final report builds on the information that was submitted in the previous reports. - The final report should be about (Minimum) 2000 words, not including Table of contents, 6 AUM Academic Projects Academic Year: 2015-2016 references and appendixes. All supporting data and information that is not directly part of the report should be included in the appendix. - The report may include pictures, diagrams and charts to illustrate and support your discussion. - Should include a „Lessons Learned? section on how operations related improvements can be made within the product development process based on your understanding of the concepts learned in this course. - The report should demonstrate student?s understanding and their creativity capacity in new product (goods or services) development. It should also be related to the concepts covered in their report that can be used for further exploring operations management. - Should have the depth and breadth of analysis similar to the “Operations Tour” in the different chapters in your textbook. - Report should be clearly organized in appropriate paragraphs with each section and subsection. - For all formatting purposes it should follow APA style. - In addition to your final submission on Turn-it-in, you need to submit a hard copy on the due date.