Managing Short Product Life Cycle

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Managing Short- Product Life Cycle Rajni Arora Doctoral Student at Punjabi University, Patiala E-mail ID: arorarajni23@yahoo.in Abstract Over the past decade, the high-tech industry has been experiencing an unprecedented acceleration of technology innovations and rapid product introduction cycles. At the same time, the industry has been moving rapidly away from regional vertical integration toward a supply chain structure that is fundamentally global. In this paper, we describe a critical operational and marketing problem that arises in this environment. Increasing competition and volatile conditions in high technology markets result in shortening product life cycles with non- cycle demand patterns. In this paper short life cycle products such as consumer and defense electronics are of particular concern. Keywords: Product life cycle, competition, resource constraints, environmental issues, global supply chain structure Introduction Product lifecycle theory has been a key principle in studies of technical innovation and has been promoted by leading management theorists as a tool for strategic decision making. Making the ‘right’ decisions at each stage of a product’s lifecycle is important to the healthy, sustainable development of manufacturing industry. With the growing concern about the global warming and environmental issues, sustainable manufacturing and efficient resource utilization are gaining popularity with significant potential in theoretical study as well as industrial applications. To support the strategy planning stage, this paper proposes a method of describing product lifecycle scenarios by which designers can explicitly determine lifecycle strategies. In other words, by describing the lifecycle scenario, designers can easily identify appropriate lifecycle options and requirements for product and process design in the later stages

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