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New Product Development Tools |
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Methodologies that, when incorporated into the product design process, enable control of key factors such as cost, risk management, and quality.
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The Stage
In order to remain competitive, many organisations are required to develop new products and services with increasing frequency. The design of these new products and services must meet, or exceed, customer expectations and at the same time they must generate an acceptable financial return for the organisation. Therefore, costs, risk management, and quality are critical elements associated with the design of new products/services. Design for Six Sigma (DFSS), the Stage-Gate process, Target Costing, and Integrated Product Teams are methodologies used in formal new product design processes. The aim of employing these methodologies is to increase the probability of success of creating superior new products and at the same time maintaining control over risks and costs.
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Management Briefs...
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Product Lifecycle Management |
Product Lifecycle Management (PLM) involves the application of business strategies and improvement tools throughout the life-cycle of products and services. A central goal of PLM is to facilitate ongoing innovations whilst maximising the profitability and usefulness of products/services throughout their total business life-cycle i.e., from conception through to recycling or disposal. The successful outcome of PLM is reliant upon wide collaboration between all parties involved, and upon the sharing of relevant information throughout the product's life-cycle.
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