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You have been promoted to Director of Operations at a medium size business in an industry in the core of your selected business major. They have tasked you and the Director of Marketing with the development and introduction of a new highly competitive product to gain significant market share domestically and internationally.
- Select product: Develop a great idea of a great, highly competitive product that represents the particular interest you have within your major / concentration. (see below for a description of the product you are to use)
- Research market 2.1 Varieties, profitability, entry barriers 2.2 Demand and any seasonality 2.3 Order qualifiers & order winners 2.4 Develop product main specifications from the order winners using the QFD method
- Identify Product Bundle (Options, prices, services, post-sale, etc.)
- Briefly identify Target Markets and their geographic areas
- Forecast aggregate demand for 3-5 years B.
PRODUCTION - Develop Aggregate Capacity plans for 3-5 years based on the forecasts
- Select and justify a production strategy (e.g. make in-house, outsource locally, off-shore, combination, etc.)
- Determine major Capital Equipment needed for production, even if you plan on outsourcing production. (You will need this to develop a Capital Budget for the financials).
- Determine labor force needed to meet the required aggregate capacity over the 3-5 year planning horizon
- Develop cost tables for the labor force (you will need this for the financials)
Product description: The product idea is a eco friendly water bottle with a a filter so that you can drink water anywhere. As part of the business strategy we are making the water bottle itself fully customizable. We will also have a subscription service that sends out new filters monthly to subscribers. These filters will have different flavors to help promote drinking water. We are keeping everything eco friendly and healthy.
