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Traditionally, most value-added network services mainly supported general-purpose business-to-business integration capabilities focused on electronic data interchanges, but service providers are evolving to become more process- and industry-specific over time, particularly in industries such as retail and hi-tech manufacturing.
Product design is the process of creating new products for businesses to sell to their customers. [1] It involves the generation and development of ideas through a systematic process that leads to the creation of innovative products. [2] Thus, it is a major aspect of new product development. Product Design Process:
Some consumer electronics stores have also begun selling office and baby furniture. Consumer electronics stores may be "brick and mortar" physical retail stores, online stores, or combinations of both. Annual consumer electronics sales are expected to reach $2.9 trillion by 2020. [5] It is part of the wider electronics industry.
One example of a value network is that formed by social media users. The company provides a service, users contract with the company, and immediately have access to the value network of other customers. A less obvious example is a car insurance company. The Company provides insurance. Customers can travel and interact in various ways while ...
If this phenomenon is presented in a graph with a Y-axis for value-added and an X-axis for value chain (stage of production), the resulting curve appears like a "smile". Based on this model, the Acer company adopted a business strategy to reorient itself from manufacturing into global marketing of brand-name PC-related products and services.
Cities such as Shenzhen, China and Penang, Malaysia have become important production centres for the industry, attracting many consumer electronics companies such as Apple Inc. [3] Some companies such as Flex and Wistron are original design manufacturers and providers of electronics manufacturing services.
Value-stream mapping, also known as material- and information-flow mapping, [1] is a lean [2]-management method for analyzing the current state and designing a future state for the series of events that take a product or service from the beginning of the specific process until it reaches the customer.
Co-creation, in the context of a business, refers to a product or service design process in which input from consumers plays a central role from beginning to end. Less specifically, the term is also used for any way in which a business allows consumers to submit ideas, designs or content.