Cardsmax Operational Management Case How Does the Essay

Excerpt from Essay :

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
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and determining the most cost effective way to reduce, reclaim, recycle and eliminate waste. Regal Marine has implemented this through the use of the models they have. 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…

Sources Used in Documents:

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.

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