Process vs product I.
give us a definition for "process design" in your own words ?
Innovation research aimed at improving the way a product is being produced
What is Innovation Portfolio Planning?
The process of selecting and prioritizing innovation projects to ensure that they are consistent with the firm’s strategy and development capacity.
What is the method used to improve the benefits and costs of a product through a detailed examination of its function ?
value engineering/value analysis
Which is an example of advantage u gain with being a fast innovators ?
A) Can sell at lower prices or lower the total sales
B) Produce a more continuous stream of new product introductions
C) fewer problems in launching new products and fewer failures
D) Higher customer loyalty from the quality
Which type of innovation is aimed at refining and improve selected features of existing products ?
A) Research and advanced development projects
B) Radical breakthrough development projects
C) next generation or platform development projects
D) Enhancements, hybrid, and derivative development projects
Which of the following best defines the Risk Priority Number (RPN) in an FMEA analysis?
A) The number of risks found in a single process
B) A ranking of how much the customer dislikes the failure
C) The number of steps required to fix a failure mode
D) A score calculated by multiplying severity, occurrence, and detection
A furniture company wants to launch a new line of desks made from recycled materials. At the same time, it’s exploring the use of automated machines and AI-driven inventory systems to reduce lead times and human errors in its factory.
Identify the innovations types the brand is using?
Discuss how these innovations might interact with each other ?
Your company is working on a project to launch a new smartwatch. It uses existing hardware components but introduces a totally new AI-driven health feature that detects early signs of heart conditions using continuous data analysis and cloud-based pattern recognition.
Try to place it on the matrix
product change: Next Generation or even New Core Product, depends on arguments
process change: Might fall under Next Generation of Core Process again depends on arguments
Your company is developing a high-tech smart fridge that can track food freshness and suggest recipes. The R&D team is under pressure to launch quickly.
How should they proceed to developed that fridge ?
try using the stage gate process or the concurrent engineering for example