10-05-2014, 04:31 PM
A STUDY ON NEW PRODUCT DEVELOPMENT
STUDY ON NEW PRODUCT.pdf (Size: 467.29 KB / Downloads: 18)
ABSTRACT
This report is devoted in study of New Product Development (NPD) and
the challenges engineers have to face while developing and introducing
a new product/part. In engineering industry, new product development is
the complete process of bringing a new product to market. A product is a
set of benefits offered for exchange and can be tangible (ie. something
physical you can touch) or intangible (like a service, experience, or
belief). Industries typically see new product development as the first
stage in generating and commercializing new product within the overall
strategic process of product life cycle used to maintain or grow their
market share.
As engineers in this space, we all feel the daily demands of this never-
ending changing market. In order to remain competitive, new products
are required in rapid fashion with customers determining market timing.
This, in itself, is a major undertaking; however, we also have a few
business measurement acronyms to consider during these endeavours.
Specifically, this paper examines objectives related to product
performance, unit cost, time-to-market, development cost, and safety.
Based on the conclusions of this analysis, this paper describes how the
procedures used to consider safety issues can be expanded to include
environmental concerns quite easily, thus creating a practical and
effective design for environment (DFE) process.
Develop product prototype
Prototypes are something people can touch, observe and
investigate while distracting them from doubt associated with
change. Building multiple prototypes in this first phase is equally
important to begin validation early and show repeatability or provide
evidence to change design and process directions.
The first prototypes should include both non functional and function
samples. The non functional samples are used to test one or more
characteristics such as burst strength of a pressure sensor
element.
Product Development Decisions
A particular product development project tends to be part of a
constellation of other projects within an organization. Here we consider
the decisions relating to product strategy and planning, product
development organization, and project management that set the stage
for an individual development project.
Role of Product Life Cycle Management
First, we must see what a Product Life Cycle is.
Product Life Cycle (or PLC) describes the commercial gain of
a product through the expense of research and development
phase, and the financial return during its "vital life". Some
technologies, such as steel, paper or cement manufacturing,
have a long lifespan (with minor variations in technology
incorporated with time) whilst in other cases, such as
electronic or pharmaceutical products, the lifespan may be
quite short.
While, Product life-cycle management (or PLCM) is the
succession of strategies used by business management as a
product goes through its life-cycle. The conditions in which a
product is sold (advertising, saturation) changes over time and
must be managed as it moves through its succession of
stages.
FLEXIBLE PRODUCT DEVELOPMENT
Flexible product development is the ability to make changes in
the product being developed or in how it is developed, even
relatively late in development, without being too disruptive.
Consequently, the later one can make changes, the more flexible
the process is, the less disruptive the change is, the greater the
flexibility.
Flexibility is important because the development of a new product
naturally involves change from what came before it. Change can
be expected in what the customer wants and how the customer
might use the product, in how competitors might respond, and in
the new technologies being applied in the product or in
its manufacturing process. The more innovative a new product is,
the more likely it is that the development team will have to make
changes during development.
Flexible development uses several techniques to keep the cost of
change low and to make decisions at the last responsible moment.
These techniques include modular architectures to encapsulate
change, experimentation and iteration to sample results and check
them out with the customer frequently, set-based design to build
and maintain options, and emergent processes that develop during
a project in response to its needs.