Description Table of Contents Product Details Click on the cover image above to read some pages of this book! Templates Appendix D. In Stock. Manufacturing Processes for Design Professionals. Cradle to Cradle. Screw-cutting in the Lathe Workshop Practice. Fusion for Makers Make:. Airline Style at 30, Feet. Introduction to Human Factors and Ergonomics. Osvaldo Borsani Architect, Designer, Entrepreneur.
Engineering Design Mechanical Engineering. Designing Engineers An Introductory Text. Relocating manufacturing operations to low wage locations is a major means of reducing costs today. The traditional ways of using existing components wherever possible, and reducing overall design complexity, of course, still apply. The methods for improving the pace of innovation or speed are also well- known: increase the use of simulation software versus prototype hardware for developing new designs, reduce the layers of management to speed decision making, and increase the use of teams that cut across design, engineering, manufacturing, marketing, service, and finance.
Finally, it is necessary to have strong-willed, knowledgeable, and persistent champions leading new product development teams within a disciplined innovation process Carlson and Wilmot, Our experience is that value is poorly understood relative to cost and speed. Some of the ignorance comes from the belief that the highly subjective nature of value prevents it from being quantified.
But this is simply not correct and there are several excellent books on value that look at it from different perspectives thereby providing both quantitative and qualitative insight and understanding.
Value-Driven Digital Business
The classic book by Ben-Akiva and Lerman takes the reader through a rigorous development of the mathematical foundations for assessing value using discrete choice analysis. The more recent book by Louviere, Hensher, and Swait includes the major developments since and explores the elements of stated choice surveys in detail and depth. More descriptive books stress the strategic side of customer value while minimizing the mathematical development. The recent book by Carlson and Wilmot emphasizes the importance of customer value in driving the innovative process.
Kim and Mauborgne have emphasized the need for discovering value opportunities in new market spaces where competition is non-existent, at least initially.
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This book strikes a balance between simplicity and rigor using a four step process: : Use of the simple but insightful linear demand model to introduce the concept of value and to show clearly how price is related to value, cost, and the number of competitors. Use of surveys for assessing value that are easy for respondents to complete with minimal cognitive stress. Such surveys are also easy to design.
The analysis of the outcomes for value is straightforward using the logit model in its simplest form. But value, if necessary, can also be disaggregated along demographic lines such as gender, age, income, education, geographical location, ethnicity, and lifestyle to provide additional insight. Use of analysis and statistical tools for assessing value that can be automated using a spreadsheet program without the need of special software. Fortunately, for many product planning problems, you only need to discover how value when one or more attributes of the product are modified.
It follows from Equation 1. This property is very important because it shows that the value change for a product 2 Occasionally, however, we do want to know the total value of a product which can be estimated using linear demand theory from the prices and demands within a given market segment. The CTV attributes of an automobile include its exterior and interior style, acceleration performance, interior noise level, fuel economy, and range.
This price increment can be determined using a survey designed specifically for this purpose Donndelinger and Cook, The company, which will initially enjoy a monopoly for this route, has made many prove-out flights to the moon without incident so the trip is deemed safe. The reason is that the seller must set a single price for a group of buyers who value the trip differently. This is the classic pricing problem for a mass produced good sold by a monopoly.
Value Driven Product Planning and Systems Engineering by Harry Cook | | Booktopia
The targeted demographic group for the trip consisted of , individuals having ages, incomes, education levels, and spirited lifestyles similar to yours. A sample of from this group were randomly selected and asked about their willingness to pay for a round trip moon flight over a range of prices. Their simulated responses are shown as the fractional demand function versus price in Figure 1.
Thus, the demand function is seen adequately described by Equation 1. First, the company must determine if the total available flight capacity over the next two years is a limiting constraint. The empirical record according to Louviere , p. As surveys reveal both the mean and standard deviation of value, the conservative approach is to take value as equal to the mean less two standard deviations.
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However, since the total flight capacity is actually , flights can be made over two years with each flight having seats , the total flight capacity is not a limiting constraint. Simulated demand versus ticket price for a flight to the moon Next, the company needs to consider how price affects gross revenue which is equal to the number of passengers times the price they are willing to pay resulting in the parabolic form shown in Figure 1.
The variable cost per passenger is zero here as the overall cost of a trip is fixed and independent of the number of passengers. At the optimal price, we see from Figure 1. This amount is twice the maximum shown in Figure 1.
Both viewpoints are useful. If a company could fully customize and price its product for any given customer, then the individual view is appropriate. Custom built homes are a good example. But most mass-produced products and services are aimed at a demographic segment and carry a single, base price and feature set. However, optional features are often available, which can be purchased to provide a degree of individual customization. The dashed line is the new demand function, which has been shifted because of an improvement in product value. A change in value shifts the demand curve The annual cash flow, , shown in Figure 1.
The cash flows in Figure 1.
B51 Fuel Economy. B53 Interior Noise. B56 Acceleration Performance. B59 Seating capacity.
C42 LOF Outcomes. C5 Additional Templates. D2 Theory versus Experiment. E2 Analysis of Outcomes. E3 A More Complex Survey. F2 Analysis of Simulated Multinomial Design. CS64 Summary. CS76 Summary. CS14 Summary. CS15 References. CS24 Summary. CS25 References. CS 43 Summary.
CS55 References. CS86 References. CS95 Summary. CS96 References. CS Summary. A4 References. B58 Head Room. B6 References. D3 References.