Give an example each of a functional product and an innovative product . Charact
ID: 429681 • Letter: G
Question
Give an example each of a functional product and an innovative product.
Characterize functional/innovative products by choosing the appropriate adjective from the last column.
Product Characteristic
Functional Product
Innovative Product
Choose From
Lifecycle length
Long/Short
Contribution margin
High/Low
Product variety
Lot/Little
Forecast errors
Large/Small
Stockout rates
High/Low
Forced end-of-season markdowns
Frequent/Rare
Order lead time
Long/Short
It is claimed that a supply chain has two functions: a physical function, and a market mediation function.Explain what these terms mean.
Supply chains are generally of two types: physically efficient supply chains, and market responsive supply chains.What type of supply chain would be suitable for a functional product? Why?
Product Characteristic
Functional Product
Innovative Product
Choose From
Lifecycle length
Long/Short
Contribution margin
High/Low
Product variety
Lot/Little
Forecast errors
Large/Small
Stockout rates
High/Low
Forced end-of-season markdowns
Frequent/Rare
Order lead time
Long/Short
Explanation / Answer
Give an example each of a functional product and an innovative product.
Functional: Hygienic Tissue Paper
Innovative: Iphone 6 plus
Characterize functional/innovative products by choosing the appropriate adjective from the last column.
Product Characteristic
Functional Product
Innovative Product
Choose From
Lifecycle length
Long (more 2 years)
Short (3months/1 year)
Long/Short
Contribution margin
Low
High
High/Low
Product variety
Low
High
Lot/Little
Forecast errors
Small
Large
Large/Small
Stockout rates
Low
High
High/Low
Forced end-of-season markdowns
Rare
Frequent
Frequent/Rare
Order lead time
Long
Short
Long/Short
It is claimed that a supply chain has two functions: a physical function, and a market mediation function. Explain what these terms mean.
Physical function: This is all the chain upstream and downstream, dedicated from the production of raw materials, through processing, packaging, transportation, storage until its sale to the final consumer. All activities are immersed in these processes along the chain.
Market mediation function: Here is this group of creative people, companies, firms and consultants, who dedicate themselves to investigate all those attributes that consumers look for in each product, there is a variety of them, and take the final consumer.
Supply chains are generally of two types: physically efficient supply chains, and market responsive supply chains. What type of supply chain would be suitable for a functional product? Why?
Physically Efficient Supply Chains of course, remember they are retail products, which meet the basic needs of consumers, therefore, although there is much competition, the priority is that the chain work efficiently so that the product reaches the consumer, and competition occurs is in those terms, to reach the customer, not to satisfy sophisticated and complex needs.
Product Characteristic
Functional Product
Innovative Product
Choose From
Lifecycle length
Long (more 2 years)
Short (3months/1 year)
Long/Short
Contribution margin
Low
High
High/Low
Product variety
Low
High
Lot/Little
Forecast errors
Small
Large
Large/Small
Stockout rates
Low
High
High/Low
Forced end-of-season markdowns
Rare
Frequent
Frequent/Rare
Order lead time
Long
Short
Long/Short
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.