1. Select a business domain and generate idea s such as developing a new product
ID: 376500 • Letter: 1
Question
1. Select a business domain and generate idea s such as developing a new product or expanding an existing product.
2. Find the best idea using decision - making tool such as decision - tree [Module A]
3. Specify objectives and design the desired product and its life - cycle [Chapter 5]
4. Define your work as a project and apply project management for all steps including network deterministic or probabilistic technique(s) [Chapter 3]
5. Use location strategy if necessary such as f actor - r ating and center - of - gravity methods [Chapter 8]
6. Determine the layout of the unit(s) considering the designed product process [Chapter 9]
7. Assign an appropriate supply chain , decide about outsourcing, and introduce yo ur sourcing strategy for your product [Chapter 11]
8. Apply quality management tools to improve the operation and increase efficiency and effectiveness [Chapter 6]
9. Define maintenance plan for the process if applicable [Chapter 17]
10. Utilize SPC to monitor the quality of the operation [ Chapter S6
Explanation / Answer
1. Select a business domain and generate idea s such as developing a new product or expanding an existing product.
Aloe Vera Gel by Patanjali comes in green original and in sandalwood fragrance. If it can be develop with Azadirachta indica and Ocimum tenuiflorum with the base of Aloe vera then it can be a great product for skin treatments. This product expanding of already existing product in Asian market can be a big step if marketed properly. From ages, human being especially women want a good glowing skin and nataural way is the only way to get a clean skin. This particular segment of beauty product can be in demand as normal Aloe Vera gel is also very popular.
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