New Product Development - Engineering

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103CHAPTER 5New Product DevelopmentOverviewThis chapter addresses four key issues: (1) early supply management and supplier involve-ment; (2) the process of designing and developing new products, with emphasis on supply management s role in the process; (3) several approaches to increasing supply management s role in the new Product Development process; and (4) a description of supply management professionals who interface successfully with engineers during the new Product Development firms excel at a crucial triad of activities: new Product Development , the design of the required production process, and Development of the optimal supply chain. This chapter addresses the first member of this triad. Rapid changes in technology, the emergence of global industrial and consumer mar-kets, increasing market fragmentation and Product differentiation, and the increasing options for developing and producing products have increased the pressure on all firms to more effectively and efficiently develop new products.

The new product development process is a series of interdependent and frequently overlapping activities that transform an idea into a prototype and on to a marketable product.

  Development, Product, New product development