Use an Integrated Approach in the Product Life Cycle Process to Enable Customer Value
Given our primary goal of developing a profitable product, our objective in the design process is to maximize customer value and minimize cost. From a financial analysis standpoint: we pursue products with the highest possible margins (ie. charge the customer “as much” as possible, and make the product for “as little” as possible). Of course we also want to sell “as many” as possible. [Read more…]