Re-conceptualising value in the engineering design process: The value cycle map

Introducing a "Cheaper, Faster, Better" product in today's highly competitive market is a challenging target. Therefore, for organizations to improve their performance in this area, they need to adopt methods such as process modelling, risk mitigation and lean principles. Recently, several industries and researchers focused efforts on transferring the value orientation concept to other phases of the Product Life Cycle (PLC) such as Product Development (PD), after its evident success in manufacturing. In PD, value maximization, which is the main objective of lean theory, has been of particular interest as an improvement concept that can enhance process flow logistics and support decision-making. This paper presents an ongoing study of the current understanding of value thinking in PD (VPD) with a focus on value dimensions and implementation benefits. The purpose of this study is to consider the current state of knowledge regarding value thinking in PD, and to propose a definition of value and a framework for analyzing value delivery. The framework-named the Value Cycle Map (VCM)- intends to facilitate understanding of value and its delivery mechanism in the context of the PLC. We suggest the VCM could be used as a foundation for future research in value modelling and measurement in PD.

RFID: The concept and the impact

Introduction Radio frequency identification, or RFID, has sprung into prominence in the last five years with the promise of providing a relatively low-cost means for connecting nonelectronic objects to an information network. In particular, the retail supply chain has been established as a key sector for a major deployment of RFID technology. This chapter provides a background to the technology and its position with regard to competing technologies. A range of applications is reviewed and the chapter concludes with some comments on the likely societal impact of RFID and potential barriers to deployment. The report is aimed at a nontechnical audience - namely, senior staff from a spectrum of areas including insurance, banking, telecommunications, government institutions and academia. It does not cover any technologies other than RFID, and in particular does not address technologies that may be candidates for tracking people.