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What metrics should you track to improve the product lifecycle of a CE device?

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If you are a consumer electronics (CE) manufacturer, you know that the product lifecycle of your devices is crucial for your success. How can you optimize your products from design to disposal, and learn from your failures and successes? One way is to track relevant metrics that can help you improve your product lifecycle. In this article, we will discuss what metrics you should track and how they can benefit your CE business.

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Satyajit Sinha ?

Director Sales/BD @ Enorme Global Electronics Pvt. Ltd.| Consumer Electronics+Home Appliances| Africa+Middle East+India…

1 Product quality metrics

Product quality metrics measure how well your CE devices perform, meet customer expectations, and comply with standards and regulations. Some examples of product quality metrics are defect rate, failure rate, customer satisfaction, return rate, warranty claims, and compliance rate. Tracking these metrics can help you identify and resolve quality issues, reduce costs, increase customer loyalty, and avoid legal risks.

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Satyajit Sinha ?

Director Sales/BD @ Enorme Global Electronics Pvt. Ltd.| Consumer Electronics+Home Appliances| Africa+Middle East+India Expertise
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1.Monitor Cost Metrics i.e. Manufacturing Costs and Lifecycle Costs. Monitor the cost of producing each unit. 2.Monitor Supply Chain Metrics. Measure the time it takes to manufacture and deliver the product. 3.Monitor Inventory. Keep track of inventory to avoid stockouts or overstock situations. 4. Monitor Performance Metrics. Track metrics like processing speed, battery life, and overall functionality. 5.Compare your product's performance against competitors. 6.Track the total revenue generated from product sales. 7. Monitor Net Promoter Score (NPS). Measure the likelihood of customers recommending the product to others. 8. Monitor Return Rates and Failure Rates. 9.Monitor customer reviews and feedback to understand satisfaction levels. 8.

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Avinash Parhi
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Defect Rate: Monitoring the number of defects in the mfg process. Failure Rate: Assessing the likelihood of product failure during its lifecycle. Customer Satisfaction: Gauging user contentment through surveys or feedback. Return Rate: Analyzing the frequency of product returns due to issues. Warranty Claims: Tracking claims made under product warranties. Compliance Rate: Ensuring adherence to industry standards and regulations. Cost Reduction: Identifying areas to minimize production costs. Customer Loyalty: Fostering repeat business through a positive customer experience. Legal Risk Mitigation: Avoiding potential legal issues related to product quality. Issue Resolution: Swiftly addressing and resolving quality-related issues.

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Avinash Parhi
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Defect Rate: Monitoring the number of defects in the mfg process. Failure Rate: Assessing the likelihood of product failure during its lifecycle. Customer Satisfaction: Gauging user contentment through surveys or feedback. Return Rate: Analyzing the frequency of product returns due to issues. Warranty Claims: Tracking claims made under product warranties. Compliance Rate: Ensuring adherence to industry standards and regulations. Cost Reduction: Identifying areas to minimize production costs. Customer Loyalty: Fostering repeat business through a positive customer experience. Legal Risk Mitigation: Avoiding potential legal issues related to product quality. Issue Resolution: Swiftly addressing and resolving quality-related issues.

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2 Product innovation metrics

Product innovation metrics measure how well your CE devices meet the changing needs and preferences of your customers and the market. Some examples of product innovation metrics are time to market, market share, revenue growth, product differentiation, and customer feedback. Tracking these metrics can help you assess and improve your innovation capabilities, gain competitive advantage, and create value for your customers.

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3 Product sustainability metrics

Product sustainability metrics measure how well your CE devices minimize the environmental and social impacts of their production, use, and disposal. Some examples of product sustainability metrics are energy efficiency, carbon footprint, recyclability, waste reduction, and social responsibility. Tracking these metrics can help you reduce your environmental and social costs, enhance your brand reputation, and comply with sustainability standards and regulations.

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4 Product lifecycle analysis

Product lifecycle analysis (PLA) is a method of using the metrics you track to evaluate and improve the performance of your CE devices throughout their lifecycle. PLA involves four steps: defining the scope and boundaries of your analysis, collecting and analyzing data from your metrics, identifying and prioritizing improvement opportunities, and implementing and monitoring the results. PLA can help you optimize your product design, development, marketing, distribution, and end-of-life management.

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5 Root cause analysis

Root cause analysis (RCA) is a technique of using the metrics you track to identify and address the underlying causes of your product failures or problems. RCA involves five steps: defining the problem, collecting and analyzing data from your metrics, finding the root causes, developing and testing solutions, and implementing and verifying the results. RCA can help you prevent recurrence of failures or problems, improve your product quality and reliability, and increase your customer satisfaction.

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Avinash Parhi
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Analyzing product lifecycle in the Indian consumer electronics market requires a nuanced approach. Root Cause Analysis reveals that cultural nuances, regional preferences, and supply chain intricacies significantly impact performance. Tailoring solutions to address these specifics—be it in design, marketing, or customer support—ensures not just compliance but resonates with the diverse and discerning Indian consumer base. This focused strategy not only resolves immediate issues but establishes a foundation for sustained success in this dynamic market landscape.

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6 How to track metrics

How can you track the metrics that matter for your CE product lifecycle? You need to have a clear strategy, a reliable system, and a continuous process. You need to define your goals, choose your metrics, set your targets, and align them with your product lifecycle stages. You need to have a system that can collect, store, process, and display your data from various sources, such as sensors, surveys, sales reports, and reviews. You need to have a process that can analyze, communicate, and act on your data regularly, such as dashboards, reports, meetings, and actions.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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What metrics should you track to improve the product lifecycle of a CE device?

1

2

3

4

5

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7

1 Product quality metrics

2 Product innovation metrics

3 Product sustainability metrics

4 Product lifecycle analysis

5 Root cause analysis

6 How to track metrics

7 Here’s what else to consider

Consumer Electronics

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What metrics should you track to improve the product lifecycle of a CE device?

1

2

3

4

5

6

7

1 Product quality metrics

2 Product innovation metrics

3 Product sustainability metrics

4 Product lifecycle analysis

5 Root cause analysis

6 How to track metrics

7 Here’s what else to consider

Consumer Electronics

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