Product Development

Product Development

Length: 1486 words (4.2 double-spaced pages)

Rating: Excellent

Open Document

Essay Preview

More ↓
Product Development

Technology is a key resource of profound importance for corporate profitability and growth. It also has enormous significance for the well-being of national economies as well as international competitiveness. Effective management of technology links engineering, science, and management disciplines to address the issues involved in the planning, development, and implementation of technological capabilities to shape and accomplish the strategic and operational objectives of an organization.
The use of technology is an important factor in the process of a company's product development. Product development is the set of activities beginning with the perception of a market opportunity and ending in the production, sale and delivery of a product. It is often used in engineered, discrete, physical products such as television sets and automobiles. Product development is divided into four stages:

1. Initiation Stage
The goal of the initiation stage is to identify a new business opportunity. Projects go through two phases in this stage: knowledge prebuild, and concept development. At the knowledge prebuild phase, planning groups comprised of marketing and design representatives match market opportunities and available technology. The product manager and the product designer analyze the market potential of the concept and develop draft specifications and plans for project management and investment. Senior corporate and divisional management evaluate the new business opportunity as a cost effective and innovative technological solution that could be developed with sustainable margins on cost, revenues, and technology.
2. Definition Stage
Review of the product concept marks the end of the next major stage in the new product development cycle. During this stage, the product concept is defined, and marketing sets the context within which integration of design and manufacturing occurred. Commercial specification, outlining the functional and aesthetic features of the product, its price range, and its market launch program, including the required launch date are developed. These items act as commercial guideposts around which design and manufacturing engineering designed the product form, fit, and functions.
3. Development Stage
During this stage, the project team develops detailed specifications of what the product is and how it performs, what it looks like, how it is manufactured, and how it is used.
4. Verification Stage

The complete product is assembled by manufacturing, and tested under normal and worst-case conditions in typical customer application environments. The aim is to discover defects early and establish margins for failure modes, so that adjustments could be made as quickly as possible, before the sales and production ramp started. When the product meets the commercial, manufacturability, quality, and performance criteria of the project team, the review panel assesses the readiness to step-up production and ship to customers in volume.

How to Cite this Page

MLA Citation:
"Product Development." 07 Dec 2019

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay on Case Study Analysis: IDEO Product Development

- Case Study Analysis: IDEO Product Development The business model for IDEO began as an open-minded place to design, develop and manufacture new products. The last 20 years of proven product design driven by innovation has translated into profit margins for their clients and continuous refinement for IDEO’s process. IDEO pioneered “concurrent engineering” where design and engineering work together to produce aesthetically pleasing products that are also highly functional. This was different from many other similar companies that placed more emphasis on the industrial design than the engineering....   [tags: Business Product Development]

Research Papers
1535 words (4.4 pages)

Nordstrom : A Market Segment, Targeting, Managing The Crm, And Identifying New Product Development Opportunities

- Milestone Three consists of the following: identifying your market segment, targeting that segment, managing the CRM, and identifying new product development opportunities 1. Divide your target market into segments. Address how the markets will be segmented and how the CRM will allow you to retain your segmented markets. Nordstrom segments are broken down into preference segments. There are three segments that Nordstrom has containing the following: homogeneous, diffused, and clustered. Homogeneous is a market with no natural segments....   [tags: Marketing, Mobile phone, New product development]

Research Papers
982 words (2.8 pages)

Use of Qualitative and Quantitative Research in New Product Development Essay

- There are many ways for the product manager (PM) to gather information on their way to creating a successful business plan to present to upper management to justify the funds and support for new product initiatives, projects and activities. The research methodologies of quantitative, qualitative and experimental research are important processes to assess, identify and refine the many variables which help define the path to decision-making for new product development, product lines and product portfolios....   [tags: product management]

Research Papers
860 words (2.5 pages)

Essay on The Role Of Marketing For New Product Development And Launch

- New product development is an essential key for a company to survive or stay competitive in the highly changed business environment nowadays(Annacchino, Marc A, 2003). Although technology plays an important role in the development of new products, the role of marketing should not be underestimated. A result illustrates that companies with a marketing department which has strong capabilities and skills are more likely to be more successful with their new products(Drechsler et al.,2013). Hence this essay will investigate the role of marketing played in the different stages of new product development and launch....   [tags: Marketing, Product life cycle management]

Research Papers
1437 words (4.1 pages)

Critical Success Factors For New Product Development Essay

- This essay is about what are the critical success factors in new product development. This will cover what the latitude say about the factors that determine new product success. The five most important success factors will be listed and evaluated. Conclusions will also be given as to what the overarching issue might be for executing the success factors. In today’s markets there are high levels of Competition in most areas. The introduction of new products is commonly viewed as a medium for profitably and growing the businesses (Yenipazarli, 2015)....   [tags: Marketing, Marketing research, Product management]

Research Papers
1255 words (3.6 pages)

A Research Study On Product Development Essay

- Product Development Emory University Hospital is a traditional hospital offering comparable medical services as other hospitals. One service that sets that facility apart from others is its special isolation unit. The unit will be examined to determine the life cycle of this dedicated area within the hospital. Strategies will be in place to enhance marketing mix and emphasis to be placed on the benefit, portfolio analysis and the advantages of having such a unique service available. Technology will also be studied to see if its reaching its intended market and if they are able to comprehend what is accessible to them at this hospital....   [tags: Marketing, Health care, Medicine, Hospital]

Research Papers
908 words (2.6 pages)

Marketing Plan For New Product Development Essays

- New Product Development is the process of designing, creating and bringing a new product to market. It is important that when businesses develop new innovations, they have the following eight stages included in the product development. By setting out the steps involved, and sticking to them, the product development will become a more focused and flexible approach that can be adapted for different types of products and/or services. This also applies to the public sector.  Idea Generating – This process will normally start with the product concept....   [tags: Marketing, Strategic management, Idea, Management]

Research Papers
722 words (2.1 pages)

The Stages in the Product Development Process Essay

- The Stages in the Product Development Process To understand the new products work we need to look at the way new products work, we need to look at how they are launched, grow and then die. the life cycle of a product is from when it hits the shops to when it is with drawed from the market and a business decides this when they decide whether or not the product is worth investing in anymore. Marketing managers need to be aware of what their product is worth and decide how long their life span is....   [tags: Papers]

Free Essays
479 words (1.4 pages)

Developing a New Product Essay

- My innovative business idea concerns the introduction of a new product in the market which is aimed at reducing the deaths of American soldiers during war together with other innocent civilians. The product shall be marketed under the brand name “Sham-lethal detector”. A lot of research will be put in the development of the device which utilizes the latest technology. In addition, the product will not only be able to detect explosive devices but also landmines that are mostly found in war torn areas especially Iraq and Afghanistan....   [tags: Business Product Development]

Research Papers
1946 words (5.6 pages)

Essay on Product Development

- Product Development Introduction Technology is a key resource of profound importance for corporate profitability and growth. It also has enormous significance for the well-being of national economies as well as international competitiveness. Effective management of technology links engineering, science, and management disciplines to address the issues involved in the planning, development, and implementation of technological capabilities to shape and accomplish the strategic and operational objectives of an organization....   [tags: Business Production Factory]

Free Essays
1486 words (4.2 pages)

This paper aims to focus on the relation of technology in product development, primarily, the computerized manufacturing planning systems. Almost all modern production systems are implemented using computers. The term computer integrated manufacturing (CIM) has been used to denote the pervasive use of computers to design the products, plan the production, control the operations, and perform the various business related functions needed in a manufacturing firm. CAD/ CAM is another term used synonymously to CIM. Computer-Aided design (CAD) is defined as any activity that involves the effective use of the computer to create, modify, or document an engineering design. It is most commonly associated with the use of interactive computer graphics system. On the other hand, computer-aided manufacturing (CAM) is defined as the effective use of computer technology in the planning, management and control of the manufacturing functions. An important link between design and manufacturing in a CAD/CAM system is the computer aided process planning.
Computer-Aided Process Planning
Process planning encompasses the activities and functions to prepare a detailed set of plans and instructions to produce a part. The planning begins with engineering drawings, specifications, parts or material lists and a forecast of demand. The results of the planning are:
· Routings which specify operations, operation sequences, work centers, standards, tooling and fixtures.This routing becomes a major input to the manufacturing resource planning system to define operations for production activity control purposes and define required resources for capacity requirements planning purposes.
· Process plans which typically provide more detailed,step-by-step work instructions including dimensions related to individual operations, machining parameters, set-up instructions, and quality assurance checkpoints.
· Fabrication and assembly drawings to support manufacture (as opposed to engineering drawings to define the part).
Manual process planning is based on a manufacturing engineer's experience and knowledge of production facilities,equipment, their capabilities, processes, and tooling. Process planning is very time-consuming and the results vary based on the person doing the planning.
Over the years, process planning has been improved and computerized. The use of computers to automate the process of preparing the set of detailed work instructions required to manufacture a product is called a Computer-aided Process Planning.
There are two types of CAPP systems:
1. Variant CAPP (Retrieval CAPP)
A process planning system that creates new plans by retrieving and modifying a standard process plan for a given part family. This typically requires input from a human planner.
2. Generative CAPP
A process planning system, including a database and decision logic that will automatically generate a process plan from graphical and textual information on the part. Generative process planners should create a new process plan, without the use of any existing plans. This does not imply that the process planner is automatic.
Variant Process Planning
Most successful variant systems depend upon Group Technology(GT). The basic variant approach to process planning with GT is:
1. Go through normal GT setup procedures
2. After part families have been identified, develop standard process plans for each.
3. When a new product has been designed, get a GT code for each part.
4. Use the GT system to look up which part family is the closest match, and retrieve the standard plan for that part family.
5. Edit the standard plan so that values now match the new design parameters, and add or delete steps as required.

Some benefits of the GT system are,
1. - It is well suited to medium to low product mixes
2. - It can be developed quickly for most companies
3. - Can be used with other CIM
4. - One program can be used in radically different industries

Disadvantages are,
1. - GT codes can become obsolete quickly
2. - While it is fast to setup, it is slower for planning than generative systems
3. - More prone to error than generative systems
Generative Process Planning
The generative systems are poorly developed at this point in time, and tend to be research systems, or very limited domain. These systems rely heavily upon the methods of Artificial Intelligence, or very complex algorithms. An example of a Generative system is the development of rules deciding which machines to use.

·Possible sources of input vary from system to system, but they are essentially,
1. - Interpret designs from CAD directly (very difficult)
2. - User defines features then answers questions about them
3. - The user does design directly on the CAPP system.
4. - The users creates a special product description file

·A rule example for a CAPP system called XPS-2 is shown below,


This rule identifies the operation, the feature it is used on, and the two conditions for it to be used. When rules are used, the number of rules in the system becomes very large.

1. - Runs faster when planning
1. - Requires a more extensive setup

CAPP Benefits
1. Process rationalization and standardization. Automated process planning leads to more logical and consistent process plans than when process planning is done completely manually.
2. Increased productivity of process planners. The systematic approach and the availability of standard process plans in the data files permit more work to be accomplished by the process planners.
3. Reduced lead time for process planning. Process planners working with the CAPP system can provide route sheets in a shorter lead time compared to manual preparation.
4. Improved legibility. Computer-prepared route sheets are neater and easier to read than manually prepared route sheets.
5. Incorporation of other application programs. The CAPP Program can be interfaced with other application programs, such as cost estimating, work standards and others.
Based on DRM Associates, Significant benefits can result from the implementation of CAPP. In a detailed survey of twenty-two large and small companies using generative-type CAPP systems, the following estimated cost savings were achieved:
· 58% reduction in process planning effort
· 10% saving in direct labor
· 4% saving in material
· 10% saving in scrap
· 12% saving in tooling
· 6% reduction in work-in-process
The implementation of either a variant or generative CAPP system forces a firm to standardize their process planning procedures. This standardization should reduce, if not, eliminate process planning errors and improve over all plan consistency relative to manual systems. A variant system attempts to augment the process planners skills, not replace them. On the other hand, a generative system could theoretically take over process planning of simple parts, leaving the planner to devote time to more complex planning tasks.

Stoll and Ettlie. Managing the Design-Manufacturing Process. 1990. Mc-Graw Hill, Inc.
Groover,M. Automation, Production Systems and Computer Integrated Manufacturing. 1980. Prentice-Hall.
Return to