Product development
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Insights into Product Development: Key Findings and Future Directions
Overview of Product Development Research
Product development is a multifaceted field that has seen extensive research and varied approaches. The literature can be broadly categorized into three main streams: rational planning, communication webs, and disciplined problem-solving. These streams highlight the importance of different agents, including team members, project leaders, senior management, customers, and suppliers, whose behaviors significantly impact the outcomes of product development processes.
Integrated Product Development (IPD)
Integrated Product Development (IPD) emphasizes the overlap and interaction between various activities in the new product development process. This approach necessitates enhanced coordination through integrated tools, incremental development, reduced task specialization, and cross-functional teams. IPD has become a critical standard for managing new product development, and research has shown that it can significantly improve project performance by fostering better coordination and collaboration.
Global Product Development (GPD)
Global Product Development (GPD) involves the colocation of cross-functional teams across different countries to enhance collaboration among engineering, marketing, manufacturing, and supply-chain functions. This approach has led to better product designs, faster time to market, and lower production costs. Companies like Hewlett-Packard, Eastman Kodak, and Hyundai Motors have successfully implemented GPD, demonstrating its effectiveness in fostering innovation and growth.
Decision-Making in Product Development
Product development involves transforming a market opportunity into a product available for sale. This process requires making numerous decisions, many of which can be supported by knowledge and tools. Effective product development is seen as a deliberate business process that involves hundreds of decisions, which can be systematically managed to improve outcomes.
Phases of Product Development
A systematic product development process typically involves multiple phases, including conceptual stages, proof of concept, and pre-product design stages. These phases allow for the evaluation of project viability, cost estimation, market risk analysis, and performance evaluation. This structured approach helps in modifying or redesigning failed product concepts into successful marketable products.
Methodologies and Tools
The use of structured tools and methodologies in product development can significantly enhance the efficiency of transforming ideas into products. These tools facilitate communication within the development team and provide a systematic approach to decision-making, data processing, and project management. Implementing such methodologies has shown positive results in both academic and industrial settings.
Discontinuous Innovation
Discontinuous innovation, or breakthrough innovation, differs significantly from incremental product development. It involves a more exploratory process that is less customer-driven and more focused on emerging technologies and contextual factors. Firms that successfully manage discontinuous innovation often develop prototypes earlier in the process and follow a logical, albeit less structured, approach compared to incremental NPD processes.
Accelerating Product Development
In today's competitive business environment, faster product development is crucial. Techniques such as short, focused development phases, strong management support, productivity improvements, multifunctional teamwork, and the use of project management software can significantly speed up the development process.
Conclusion
Product development is a complex and dynamic field that requires a strategic approach to manage effectively. By integrating various methodologies, fostering global collaboration, and focusing on both incremental and discontinuous innovations, companies can enhance their product development processes. Future research should continue to explore these areas, providing deeper insights and more refined tools to support successful product development.
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