Competitiveness & timing of innovation

Competitiveness & timing of innovation
a) Time based competition
Getting a product to market even 6 months late reduced
expected gross profit by a 33%
Getting to a market even by a month improved expected gross
profit b 12 %
b) Managing time based innovation
Being proactive to market changes
Creating the right internal environment
Required for innovating new technology problem
A. Being proactive to market change
The product is never perfect at the first time
After the product as quick as small begin
B. Creating the right internal environment
C. Required for innovating new technology problem
The service technologies that provide capabilities for first
response companies form on…
Rapid product development cycles
Manufacturing science bases in unit production processes
Intelligent control in operating system
Teamwork & communications that integrate the business
enterprise
Concurrent Engineering
A concurrent engineering product development requires for the
formation of multifunctional teams for managing complete
development of a new product.
1) Step to success with concurrent engineering team
Conduct a competitive benchmarking analysis
Product development schedule & early prototyping goals & means
Identify early source of supplies
Solicits suggestions from service forms
Concurrent engineering practices can facilitate the implementation
of new technology in products by improving communication &
cooperation among research, product design, manufacturing,
marketing sales & finance.
2) Significance of concurrent engineering
Colloboration in concurrent engineering
Balancing performance, quality & cost in concurrent engineering