New Product Development: Challenges and Implications

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Author(s): Hassanali Rassouli (Aagahn Information Technology Consultants, Iran)
Copyright: 2013
Pages: 22
Source title: Business Strategies and Approaches for Effective Engineering Management
Source Author(s)/Editor(s): Saqib Saeed (Department of Computer Information Systems, College of Computer Science and Information Technology, Imam Abdulrahman Bin Faisal University, Dammam, Saudi Arabia), Mohammad Ayoub Khan (Centre for Development of Advanced Computing, India)and Rizwan Ahmad (Qatar University, Qatar)
DOI: 10.4018/978-1-4666-3658-3.ch004

Keywords: Business Science Reference / Industrial Engineering / Operations and Service Management / Science & Engineering

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Abstract

Intensive global competition of 21st century calls for a systematically aligned set of approaches in all aspects of corporate management including new product development. Success of new products needs the strategic support of corporate executives to establish and deploy coherent policies that are compatible with approaching new paradigms in business and manufacturing. Lean thinking is the widely accepted paradigm in the beginning of 21st century, and this chapter defines challenges and implications that corporate management will face in attempting to adapt to new product development approaches in accordance with the lean thinking perspective. This attempt covers all aspects of the organization in respect to product lifecycle.

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