Wednesday, April 20, 2016

Operating Life Cycle

 concept is applied in operational management for any production system which takes input and produces some output by using some process. The production system may be mass production , job shop production or unit manufacture or project. The different production or unit manufacture or project. The different production depends on the type of product produced and the volume of the process used to produce the goods.The whole process of operation from birth to death of a production system can be viewed as definite life cycle. The life cycle concept of any product is similar to any life cycle of a living being. The major stages in the life cycle concepts are : 
  1. Development : - The development stage can be a protracted stage and will involve activitiessuch as design , planning , costing , test marketing , etc.  The costs are high, with no earned revenue. Promotion for awaeness may commerce in advance of introduction of the product to the market place.
  2. Birth(or Introduction stage) :- This is the stage where a product will be introduced after initial decision like technology selection , location and layout design of production facility after study of various aspects of business unit in transportation and raw material , manpower resources availability etc. This stage is known as birth stage of the product. 
  3. Growth the stage
  4. Maturity Stage
  5. Death Stage


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