Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Cardsmax
Operational Management Case
How does the concept of product life cycle apply to Regal Marine products?
The concept of the life cycle applies to Regal marine in several ways. First, this company appears to be in the maturity phase. There are discussions in the article that explain the different methods that they have utilized to stay cutting edge and with supply and demand. As the years passed, they would create bigger and better boats that would in fact cost more and make more money. Regal was in the growth stage when they were getting new suppliers while they continued to make updates and innovations to their product. Penfield (2009), explain that companies that can implement effective waste-recovery systems will have a competitive advantage over other businesses. They further explain that in the current economic environment companies need to look at waste as an opportunity we cannot afford to squander. life cycle management is looking at the life cycle of processes and products and determining the most cost effective way to reduce, reclaim, recycle and eliminate waste. Regal Marine...
These models allow them to make thousands and thousands of copies, which conserves waste and is re-usable.
What strategy does Regal use to stay competitive?
To stay competitive Regal is constantly introducing innovative and high quality boats. This company recognizes that the average life span of their boats consists of about three to five years. In addition, to stay competitive Regal is always seeking out new design input from customers, deals and consultants. Some of the methods utilized by Regal are also called Life Cycle Engineering (LCE) Wanyama et. al.(2003),explains that LCE, sometimes referred to as life-cycle design, is a decision-making methodology that considers performance, environmental, and cost requirements throughout the duration of a facility. This methodology centers on the design and production of products that have minimal environmental impact during their entire life cycle. It supports a more balanced view of investment considering construction, maintenance, renewal and decommission issues. Such a holistic…
References
Penfield, P. (2009). Life cycle management: A competitive advantage for businesses. Business Journal (Central New York), 23(14), 12. Retrieved from EBSCOhost.
Rahimifard, A.A., Newman, S.T., & Rahimifard, S.S. (2004). A web-based information system to support end-of-life product recovery. Proceedings of the Institution of Mechanical Engineers -- Part B -- Engineering Manufacture, 218(9), 1047-1057. doi:10.1243/0954405041897004
W, W., A, E., Zhang, H.C., & S, E. (2003). Life-cycle engineering: issues, tools and research. International Journal of Computer Integrated Manufacturing, 16(4/5), 307. Retrieved from EBSCOhost.
Their current supply chain management gives them a competitive advantage, but exclusive contracts would give them a sustainable competitive advantage. Lastly, Regal Marine should institute a system of inventory forecasting. Their current modular system seems demonstrates the importance of short lead times and a fear of obsolescence but they do not appear to engage in any serious forecasting of demand. To do so would help them gain a perspective
Regal Marine's Use Of Product Lifecycle Management How Regal Marine Is Using Product Lifecycle Management To Stay Competitive The ability to effectively manage product lifecycles, including the ability to quickly launch new products profitably, is what often separates the most and least profitable companies in any industry. In industries that are highly reliant on customers, this ability to quickly translate market requirements into finished products is even more significant. The role of Product
Regal Marine Case How does the concept of product life cycle apply to Regal Marine products? The concept of product life cycle is tremendously relevant to Regal Marine's industry. This industry is known for continually introducing new product lines into its market on a regular basis; usually annually. Regal Marine's product life cycle analysis is currently based upon the success how well the product sells within a fairly short period, generally within
Regal Marine Product life cycle is an approach that companies use when analyzing the evolution of their products. This is intended to determine the investments that must be made regarding these products, but also the incomes they are likely to determine. The concept of product life cycle also applies in the case of Regal Marine products. In this case, most of the company's products usually have a life cycle of three
With this type of direct input, customization to fit exact consumer needs becomes one of the clear pillars of the strategy. This is also reflected in the diverse list of ships that the company has produced in the last period of time, ranging from the small, 3-passengers Rush to the luxury Commodore -- all in order to address a wider range of potential clients, with diversification and customization working
Those points are inherent in the approach the company takes to integrating Computer-Aided Design (CAD) data into the broader series of systems and strategies used for constructing boats. The company is also open to taking design, boat interiors and hull style considerations from customers, consultants and dealers. This approach to capturing requirements is often called Voice of the Customer (VoC) research and is typically included as part of the