PRODUCT MANAGEMENT

MARIO MCLURE
 CHAPTER 3

PLANNING IN
PRODUCT
MANAGEMENT
 Planning in Product Management

•Product planning
 Product planning is the process of creating a product idea and
following through on it until the product is introduced to the market.
Additionally, a small company must have an exit strategy for its
product in case the product does not sell.
 Product planning entails managing the product throughout its life
using various marketing strategies, including product extensions or
improvements, increased distribution, price changes and
promotions.
 Manufacturing Resource Planning

•Manufacturing resource planning is defined as a method

for the effective planning of all resources of a manifacturing
company. Ideally, it addresses operational planning in unit,
financial planning, and has a simulation capability to answer
“what-if” questions and extension of closed-loop MRP.
Material Requirements Planning
•Material requirments planning(MRP) is a system for
calculating the materials and components needed to
manufacture a product. It consists of three primary steps:
taking inventory of the materials and components on hand,
identifying which additional ones are needed and then
scheduling their production or purchase.
 Chapter 4

NEW PRODUCT
DEVELOPMENT AND
ITS STRATEGIES
 New Product Development
•Process of developing a new product or service for the market. This
type of development is considered the preliminary step in product or
service development and involves a number of steps that must be
completed before the product can be introduced to the market.
•New product development may be done to develop an item to
compete with a particular product/service or may be done to
improve an already established product.
•New product development is essential to any business that must
keep up with market trends and charges.
 Lean Product Development

•Lean product development or LPD , utilizes Lean Principles to

meet the over-growing challenges of Product Development. Beginning
with Allen Ward’s study of the Toyata Production System, lean product
development seeks to address the following issues in particular:
 Reduction of long development cycle times
 Reducing the high cost of development
 The need for more innovative solutions
 Reduction of production costs
 Redevelopment cycles
 CHAPTER 5

PRODUCT LIFE
CYCLE
MANAGEMENT
 Product Life Cycle
management to effectively manage the product life
•Product life cycle
cycle, organizations need to have a very strong focus on a number of
key businesses areas:
 Development
 Financing
 Marketing
 Manufacturing
 Information
Maintenance, Repair, and Operations

•MRO items are used in production and plant maintenance and can be items
such as maintenance supplies, spare parts, and consumable used in the
production process.
 Oils
 Lubricants
 Gloves
 Safety equipment
 Cleaning products