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The service product management practice ensures management of a profitable service in the marketplace. Service Product manager identifies profitable service space, packages services in a productized form and delivers the same to the market. The function is a core service business management function and is a mix of sales and marketing functions.
When combining the activities with the concepts of the product structure model it will result in a process-data diagram. This diagram displays the steps which need to be taken within the process of product structure modeling together with the deliverables, at the right side, which are outcomes of these activities.
A company's place on the matrix depends on two dimensions – the process structure/process lifecycle and the product structure/product lifecycles. [1] The process structure/process lifecycle is composed of the process choice (job shop, batch, assembly line, and continuous flow) and the process structure (jumbled flow, disconnected line flow, connected line flow and continuous flow). [1]
Product management is the business process of planning, developing, launching, and managing a product or service. It includes the entire lifecycle of a product, from ideation to development to go to market .
The PBS is identical in format to the work breakdown structure (WBS), but is a separate entity and is used at a different step in the planning process. The PBS precedes the WBS and focuses on cataloguing all the desired outputs (products) needed to achieve the goal of the project.
Matrix management is an organizational structure in which some individuals report to more than one supervisor or leader—relationships described as solid line or dotted line reporting, also understood in context of vertical, horizontal & diagonal communication in organisation for keeping the best output of product or services.
"Product Servitization" is a transaction through which value is provided by a combination of products and services in which the satisfaction of customer needs is achieved either by selling the function of the product rather than the product itself, by increasing the service component of a product offer, or by selling the output generated by the product. [18]
The product flow diagram (PFD) is a representation of the order by which a sequence of products is created according to product-based planning principles. It is related to the product breakdown structure (PBS). The product flow diagram is a prescribed activity of the PRINCE2 project management methodology which mandates the use of product-based ...