supply chain

May 15th, 2015
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CHAPTER 5New Product DevelopmentOverviewThis chapter addresses four key issues: (1) early supply management and supplier involvement; (2) the process of designing and developing new products, with emphasis on supplymanagements role in the process; (3) several approaches to increasing supply managementsrole in the new product development process; and (4) a description of supply managementprofessionals who interface successfully with engineers during the new product developmentprocess.World-class firms excel at a crucial triad of activities: new product development, thedesign of the required production process, and development of the optimal supply chain.This chapter addresses the first member of this triad.Rapid changes in technology, the emergence of global industrial and consumer markets, increasing market fragmentation and product differentiation, and the increasingoptions for developing and producing products have increased the pressure on all firmsto more effectively and efficiently develop new products.1 In many progressive firms,the design of new products is conducted by a team representing a number of functionalareas. Marketing, product planning, design engineering, reliability engineering, supplymanagement, manufacturing engineering, quality, finance, field support, and, frequently,carefully selected suppliers and customers are involved, as appropriate. If effectively done,new product development (NPD) can be a source of competitive adv

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