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Incremental information sharing helps minimize the chance that concurrent product realization will lead to surprises. "Incremental" meaning that as soon as new information becomes available, it is shared and integrated into the design. Cross-functional teams are important to the effective sharing of information in a timely fashion.
Product development also includes the renewal of an existing product and introducing a product into a new market. A central aspect of NPD is product design. New product development is the realization of a market opportunity by making a product available for purchase. [1]
Advanced product quality planning (APQP) is a framework of procedures and techniques used to develop products in industry, particularly in the automotive industry.It differs from Six Sigma in that the goal of Six Sigma is to reduce variation but has similarities to Design for Six Sigma (DFSS).
Design begins: Research and development begins work on product realization, usually followed by an advance payment before physical product designs begin. A direct link between CAD (computer aided design) and fabrication is made more effective by eliminating the need for ERP (enterprise resource planning) input as a control.
Product management is the business process of planning, developing, launching, and managing a product or service. It includes the entire lifecycle of a product, ...
Product planning (or product discovery) is the ongoing process of identifying and articulating market requirements that define a product's feature set. [1] It serves as the basis for decision-making about price, distribution and promotion.
Knowledge-based engineering (KBE) is the application of knowledge-based systems technology to the domain of manufacturing design and production. The design process is inherently a knowledge-intensive activity, so a great deal of the emphasis for KBE is on the use of knowledge-based technology to support computer-aided design (CAD) however knowledge-based techniques (e.g. knowledge management ...
Product innovation is the creation and subsequent introduction of a good or service that is either new, or an improved version of previous goods or services. This is broader than the normally accepted definition of innovation that includes the invention of new products which, in this context, are still considered innovative.