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A Survey of Major Approaches for Accelerating New Product Development
Author(s) -
Millson Murray R.,
Raj S. P.,
Wilemon David
Publication year - 1992
Publication title -
journal of product innovation management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 2.646
H-Index - 144
eISSN - 1540-5885
pISSN - 0737-6782
DOI - 10.1111/1540-5885.910053
Subject(s) - new product development , product lifecycle , product (mathematics) , competitive advantage , hierarchy , process management , product management , business , set (abstract data type) , marketing , computer science , industrial organization , economics , market economy , geometry , mathematics , programming language
Product life‐cycles are becoming shorter, leading firms to reduce the time to bring new products to market. Being early can provide a significant competitive advantage, making the acceleration of new product development (NPD) an important area for research and inquiry. Based on their review of a wide range of literatures in business strategy, marketing, new product development, manufacturing and organization management, Murray Millson, S. P. Raj and David Wilemon report a general set of techniques for reducing the developmental cycle time for new products. The article develops a hierarchy of available NPD acceleration approaches and discusses potential benefits, limitations and significant challenges to successful implementation.