The Concept of Life-Cycle in Operations Management.

1. Introduction Every organization has an objective or objectives and goals to achieve. These objectives and goals achieving can be possible only when management organizing the available recourses in a suitable structure with a plan. The whole process of achieving objectives like planning, organizing and implementation and correction process by means of feedback bring together by operation management. The physical resources like space, machinery, money and men who organize those physical will take major role in the operation management. The objectives related to both performance and cost, decision making process related production or operation of the organization, strategic and operational and feedback control system will play important†¦show more content†¦At this stage organization takes feed back from various groups of users and improve the product usability with add on features and introduce different models with out change in basic application. This is the stage business will be exposed more to the external competitive market which initiate new comers with similar product where they will take off the market or share the market which causes the original product business organization will go for further improvement or for new product line. Sustainability of in this stage is depends on the factors like the management’s views, how fast they recognize their product obsolesced and how fast new comers taking over the market. 2.4 Death stage. As discussed above in maturity stage, in case of business management could not predict the impact of the new product growth and lack of taking necessary changes in the product design, the product life cycle enter into the dearth stage which leads to organization to merge with new companies or liquidation or sale. 3. Life-cycle costing The cost of the product through out the product life-cycle referred as Life-cycle costing. The new concept of this Life-cycle costing is long term costing. The short term costing always lead us to in efficient decisions which put us in a wring track of product selection, design and production. The initial cost may be higher at growth stage, but if knowShow MoreRelatedProject Management Life Cycle1218 Words   |  5 Pagesï » ¿ Project Management Life Cycle Chi Zhang Herzing University MBA 631 Operations and Projects Management Dr. Gary Hanney Abstract To control the process of a project and manage the operation of a project, the theory of project management life cycle is widely used in nowadays business administration. 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