To succeed in competitive markets, all organizations need to strategically plan and manage their products and services. Much of the responsibility for doing this lies with operations management. An organization's operations section deals with managing products and services and delivering quality using efficient processes.
In this course, you'll learn about the product and service life cycle, the process for developing new products, and strategies to manage the sale of existing and mature products. You'll also learn about a process and best practices to improve efficiency for new product or service development. Finally, you'll learn about strategies, such as Lean processes, for managing existing and mature products and services.
Managing Products and Services
- match stages of the product life cycle to actions that should be taken at each stage
- sequence the stages of the new product development process
- match current best practices in new product development with their descriptions
- recognize strategies for maintaining sales of existing products and services
- recognize strategies for revitalizing sales of existing products or services
- recognize strategies for rationalizing mature products or services
- recognize how to plan and manage an organization's products and services strategically