Please provide 300 words answer Consider a company with a global presence that i

Question

Please provide 300 words answer

Consider a company with a global presence that is manufacturing chemicals for other industries and household applications. The company wants to develop a new chemical product for industrial applications. The Engineering Manager in this company need to plan for this venture. Applying all the topics covered in this course or otherwise, explain in details all the steps that are involved in this planning. (Hint: You may need to consider the various activities such as: R&D, Manufacturing, Sales & Marketing and Finance/Accounting. You do not need to include any calculations.)

Explanation / Answer

If a company wants to develop a new chemical product , it is needed to know the requirement of the product in the market and its benifits to the customer. Company has to do a market survey for the requirement of the product. Once the market survey is done . If company finds that if product has serious demand in the market , then it has to conduct the research for the development of the product. It has to analyse the raw materials required, machinery or instruments, vendors available to supply the raw materials.

Team size and its working is to be planned for product developmment , office space required is to be planned etc

Budget for product developement is to be set. Financial planning is needed to be done to optimize the cost of raw materials, logistics, manufacturing etc.

Then route map or process note is needed to be developed which indicates the turn around time for each process . The Manager needs to make the contingency planning for the product failure. Manager needs to ensure that each process in development is working as per plan and within the given time frame. Cost of manufacturing , development and distribution of the product should be within the budget .

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.