PRODUCT DEVELOPMENT

Topics: Manufacturing, Standardization, International Organization for Standardization Pages: 7 (1649 words) Published: January 8, 2014
Assignment of Production & Operation Management
Product Development
Product Development Tools/Techniques

Submitted To
Prof. P.S.Gill

Submitted By

Manish Singh
MBA-2nd, RIMT
Punjab Technical University
Jalandhar

Product Development
Meaning: Product development is the carried out after research which follows pure research. Development is the work contributing towards improvement in the existing knowledge by way of improved ideas, systems, techniques, etc. Product development is a specialized activity which may result in creation of new product or modification in the production process to produce the same product. Product development involves design, redesign and fabrication of new or modified product and then testing it to find its usefulness. Needs of Product Development:

1. Meet changing needs of the customers.
2. Adjust with the variation of quantity required.
3. Produce product in that in which consumers are willing to buy. 4. Maintain sales position and net profit also when competition is hard. Product Development Procedure:
1. Venture New Product Ideas
1) Imitation: Its means marketing another same product similar to one in the market. 2) Adaptations: It involves developing an improved product foe an already existing in the markets. 3) Inventions: New design comes from the invention.

4) Other Sources: Sometimes the new ideas come from the following sources: a) Dealers and customers
b) By advertising, asking people to send their ideas.
c) Success stories of friend/relative, experience of other manufacturers. d) Internal sources.

2. Idea Screening: The various project ideas are carefully screened and choose best ideas from them. 3. Concept Development: All ideas selected after preliminary investigation are subjected to detailed investigation and analysis. 4. Product Analysis: It is carried out in occurrence with product design. Many factors are analyzed in connection with development and design such as sales, advertising, market research, durability and dependability, etc.

Technical Product Development Process:
At this stage after the product is developed it is converted into a prototype development, giving a visual image of the product. The planned programmed may undergo modifications during actual implementation if and when necessary. 1. Test Marketing: Once the product is developed, it has to be tested in the actual market place to learn how consumers react to product’s features, its performance and its marketing programmed including branding, packaging, price and distribution. 2. Commercialization: Once the marketing gives a green signal the company can undertake the full scale manufacture, considering the necessary modifications. 3. Consumer adoption Process: Consumers typically go through a series of stages in reaching the regular user stage. This process is termed as adoption process:

Awareness →Interest →Evaluation →Trial →Adoption
Product Development Techniques /Tools
Techniques of product development can be classified into four parts: 1. Standardization
2. Simplification
3. Specialization
4. Diversification
1. Standardization: Standardization is the process of defining and applying the conditions necessary to ensure that a given range of requirements can normally be met with minimum variety and in reproducible and economic manner on the basis of the best current technique. The concept of standardization is applicable to all factors of production namely men, machines, materials, methods and finished goods. These standards can become the basis to evaluate the performance of various components of production in manufacturing process. Levels of Standardization:

1. Company Level: It means certain standard fixed by companies. 2. Association Level: It means some or certain standard fixed by group of companies which are in same product line. 3. National Standards: Its means some standard fixed by national level authorized institution. In India, Indian Standard...
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