High Value Engineering Case Studies
Written By 10149400.
1.1 High Value Engineering (HVE)
Zhang et al. (2011) defines high value engineering (HVE) as the use of engineering technologies, skills and capabilities to create, develop and deploy high value adding products and services that may lead to sustainable economic growth in complex global business networks. The effective management of HVE activities in global engineering networks (GEN) has been focused on a set of essential capability areas including accessing & deploying dispersed resources, coordinating & integrating network activities, collective learning & knowledge management, etc.
1.2 Typical forms of value creation
The value creation comes in 3 forms: …show more content…
In additon, with factories located of close proximity to the headquarters, there will be better control of production as regular factories visit can be conducted to ensure quality control . Hence, to enhance CO’s manufacturing system; it should adopt a hybrid manufacturing system. In today’s volatile enviroment where designs of CO competitors’ offerings command a matching or leapfrogging move, it is recommended for CO to ousource its fashion apparels to manufacturers based in Australia as this will not only reduces the lead-time but enables CO it to produce fashion forward apparels on time to remain competitive. On the other hand, CO should continue to outsource its staple apparels in low cost countries to reduce production cost whereby this cost savings benefit could be passed on to its end customers. With a hybrid manufacturing system, CO will be both agile and lean thus, gaining a competitive advantage by providing its customers with fashionable and affordable …show more content…
Mobile application is capable of facilitating customers’ mobile shopping experience such as providing convenience and assurance. Therefore, it is encouraged for CO to design a mobie application to allow customers to purchase CO’s products via mobile application. Moreover, the application should allow its customers to track their purchases, as this will provide them with greater assurance. On the other hand, CO is able to implement an alternative form of distribution. This means that there will be more engagement points for the customer to make a purchase thus increasing profit as the implementation on a mobile application increases customers convenience and ease of sales. As customers are the key factor for successful retailing, multi-channel engagement points provide more opportunities to gather information about customers. According to McGuire T., Manyika J. and Chui M. (2012), the information gathered allows CO to narrow their segmentation of customers and therefore much more specific tailored products or services. Therefore, an application platform would effectively assist CO in reducing the amount of customers’ unsatisfied demand through the collection of data as well as providing enhance customer