New product introductions fail at an amazingly high rate – about half of all new products commercialized fail to meet sales targets. In some cases, customers like the product features, but the cost is too high. In other situations, companies miss the mark in developing and designing a product that
NPD Process
Process Improvement Projects
Quality has two major thrusts: customer satisfaction and continuous improvement. In delivering and meeting customer needs, we must constantly strive to improve the product offering itself as well as enhancing accompanying services. Quality is inextricably linked with new product development (NPD) and with effective project management. There are several steps
Supply Chains in NPD
New product development (NPD) teams often focus on the customer. If there is no a customer need for a product, then it will not survive the marketplace and development efforts are wasted. Customer need should be the number one objective for an NPD project. On the other hand, many firms
Project Cost Estimates
Every project requires an expenditure of resources, including time money, and people (human resources). Whether projects are conducted in-house by project management teams or outsourced to experts in the field, every engineering, product, and project manager needs to prepare a cost estimate and monitor the
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