ABSTRACT
Understand the transfer function of production cost and analyze • how companies produce and offer goods for sale Recognize the difference between short-term and long-term cost func-• tions, marginal cost function, and the shapes of various cost curves Analyze industrial sectors to prevent production failures and win • in the market
This chapter describes the need for manufacturers to become more customer focused and summarizes the benefits of better understanding the voice of customers. The voice of customers (VOC) model puts the customer, not the producer, first in a quest to deliver world-class manufactured products.
