When basing decisions on economics, how are lead time, product cost, value, and development expense used?
2023-05-02
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Lead time: Lead time is used to consider how long it will take to develop and implement a product, as well as when it will become available and its estimated monetary impact.
Product cost: Product cost is used to determine the cost of developing and launching a product, including the cost of materials used, labor costs, production costs and other associated costs.
Value: Value is used to evaluate how much a product or service is worth to customers and the market, as well as what benefits it can bring in terms of improved user experience or cost savings.
Development expense: Development expense is used to gauge the cost of implementing a product or service, including the cost of research and development, marketing, and any additional expenses necessary for successful launch.
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