Product Design Definition, Meaning, Characteristics, Objectives, Types, Importance
Product design can be defined as “the translation of intellectual wisdom, requirements of the entrepreneurs, needs of the consumers, etc., into a specific product”.
Product design can be defined as “the translation of intellectual wisdom, requirements of the entrepreneurs, needs of the consumers, etc., into a specific product”.
Capacity planning specifies the production capacity required by an organization to meet changing product demands. It is a long-term strategic decision that establishes a company’s overall level of resources.
Productivity is one of the primary performance criteria for evaluating a production system. It is a function of the production, input, and output relationship. Productivity improvement occurs when a given output is achieved with less information.
A production system is a set of interrelated components or subsystems that receive inputs from the environment and transform them into desirable outputs (products or services). A production system encompasses all the functions required to design, produce, distribute, and service the manufacture of a product.
The cash budget is considered an integral part of the total budgeting process, and it is prepared only after all functional budgets, such as sales and production, are finalized.
Securitisation is a well-established practice in the global debt capital markets, involving the sale of income-generating assets from the owning institution to a specifically established company.