What Are Your Takeaways from This Chapter? List at Least

question 14

Essay

What are your takeaways from this chapter? List at least 4.
Understand customer needs
Involve finance and accounting early in the product development cycle
Risk management is a critical dimension of new product and service development. Risk management includes (1) early supplier involvement to reduce supply risks, (2) ensuring that the company is not outsourcing core competencies, and (3) design considerations such as whether products should be modular or integral.
The interface between marketing and SCM lies in developing the right product at a fair price and then positioning it properly in the marketplace.

---

Definitions:

Sales Decline

A decrease in the number or value of products or services sold by a business over a certain period.

Early Failure Rate

The frequency of breakdowns or failures of a product or system shortly after its introduction.

Problem-Solving Team

A group of individuals brought together to address specific challenges or issues within an organization, working collaboratively to find solutions.

Specific Issue

A particular or well-defined problem or topic of interest.