Business economics plays an important part in the product development process. There is no fun in developing a product that is not profitable. As product architects, we need to ensure the technical, environmental as well as financial viability of our products. The product must be socially acceptable and environmentally friendly.
A well-designed product must ensure the viability of the three Ps of sustainability-planet, people, and profit. Ensuring these 3Ps is the basic requirement to remain in the market for a long time.
In the formative stages of product development, we start with estimates and incomplete ideas. During the development process, there are many changes in our product idea as we get and process more information.
Sometimes the design changes are competitor driven, sometimes by our innovation. During the idea formation phase, it is important to quickly evaluate many alternatives and select the better ones. As we progress with our development, we add more details and get more accurate information to check the viability of our product ideas.
In the QFD (quality function deployment) analysis itself, we should include the requirements of environmentally friendly products as well as social requirements. Many of the environmental requirements, like the conservation of energy and other resources, also directly impact profitability. Even in cases where such direct relation is not present, consumers prefer a product that is less harmful to the planet.
Analysis of the profitability often poses a problem as different expenses happen at different times and may not be apparent right at the beginning. One needs to account for all the revenues and expenses to get an idea of the profitability.
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Denne historien er fra April 2023-utgaven av Electronics For You.
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STK435 IC-Based STEREO AMPLIFIER
This stereo AF amplifier uses the STK435 IC, a highly popular choice due to its simplicity.
A SEWER DRAIN SHIELD For Smart Cities
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ESP32 SPEECH FUNCTION: Text To Speech
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World's Smallest Programable INDUSPHONE DESIGN
This is the second part of designing the world’s smallest phone, where the UI is integrated with the basic functions of the phone.
FLAME-SENSING FIRE ALARM Using An Arduino Nano
Fire safety alarms are crucial in both residential and industrial environments.
loT-Based Distribution Transformer CONDITION MONITORING SYSTEM
The proposed IoT-based distribution transformer condition monitoring system enables real-time monitoring of distribution transformers, identifying such deviations as overload conditions and overheating.
Wi-Fi 6 AND Wi-Fi 7 Powering The Next Wave of Smart Connectivity
Wi-Fi 6 leads with faster data rates and reduced latency while upcoming Wi-Fi 7's backward compatibility will facilitate gradual upgrades from Wi-Fi 6, easing transitions. However, advanced features like multi-link operation (MLO) and ultra-low latency may command a premium, making Wi-Fi 7 suited for high-end applications.
CHARGE FORWARD: High-Voltage Batteries And MSMEs Can Fuel INDIA'S EV REVOLUTION
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and influence. The essential role of MSMEs and academia in developing a strong EV ecosystem emerges, marking their significance for India's push towards self-reliance in this innovative field.
"MILES TO GO Before I Sleep"
A teacher illuminates the path to success through the light of knowledge, yet some teachers extend that light to society through their contributions and research. Known as the architect of the modern M3 electronic voting machine (EVM) and the voter verifiable paper audit trail (VVPAT) that transformed India's democratic process, Prof. (Dr) Rajat Moona's journey began in the modest town of Bareilly. Here is his story, as recounted to and written by EFY's Yashasvini Razdan.
STARTUPS & INNOVATORS
1 One Charger To Charge All Your Devices | 2 Harnessing AI Technology For Efficient Pest Management | 3 Wireless Light-Based Communication With Velmenni's Technology