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Explain about the continually updating and improving the current product line.
Creating a Constant Flow of New Products or Continually Updating & Improving the Current Product Line:
Into a product planning activity, this is clear that existing products and potential products both should be included. This follows that the activity itself must deal along with the proper balance in between old and new products within the product mix.
Product planning is generally linked along with the Market Analysis inputs. The inputs will specify the need for new products or require for new process or updating and improving the current product. By the prediction of ecological, societal, political and technological and/or economic trends that the anticipated requirements can be often determined.
The capacity of production systems as well as the nature of storage faculties considerably affects the inventory policy of an organization, e, g capacity for heating oi
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