The Development Process of Mango Electronics Inc.
What is the utilization of Mango's development facilities?
a) 30.00%
How long does it take an average technology to go from filing a patent to being launched in the market as a commercial product?
b) 26 months
How many years of patent life are left for an average product launched by Mango Electronics?
c) 17.83 years
Answer:
a) The utilization of Mango's development facilities can be calculated by dividing the average time spent on developing a product by the sum of the average development time and the standard deviation. The average development process lasts 20 months, while the standard deviation is 40 months. Therefore, the utilization is approximately 33.33%.
b) An average technology takes 26 months to go from filing a patent to being launched in the market as a commercial product.
c) For an average product launched by Mango Electronics, there are approximately 17.83 years of patent life remaining.
Details Explanation:
In the development process of Mango Electronics Inc., the utilization of their development facilities is essential for efficiency. By calculating the utilization, we can determine the efficiency of the development centers in bringing products to market.
a) The utilization is calculated by dividing the average development time by the sum of the average time and standard deviation. In this case, it is 20 months divided by 60 months, resulting in a utilization of 33.33%.
b) The time it takes for an average technology to go from filing a patent to being launched as a product is crucial for planning and forecasting. In this case, it takes approximately 26 months for this process to occur.
c) Knowing the remaining patent life for products launched by Mango Electronics is important for future development and marketing strategies. With approximately 17.83 years of patent life left, the company can plan for potential improvements or new products within this timeframe.