Friday, September 6, 2013
Next-Generation Product Development
This weeks reading lay an important focus on how the product design and development play an important role in the success of the product. This article summarizes a similar situation where the traditional gated product design process has to be replaced by the next generation lean development. The product needs to be designed with a high importance of ergonomics as well as customer driven demands. This would result in products, which are low cost, more flexible, and with fewer delays thereby getting value for both the company as well as the customer.
Apple Inc is a good example of this scenario where they launched a new iPad within six months of the previous one with a camera and a faster processor. The components used were the same but additional features added were on high customer demand. Oshkosh Corporation also adopted a similar technique for their success. They raised $2 billion by producing a lightweight off road equipment that would protect its crew.
Such success stories highlight the evolution of the product design over generations. So is today’s generation following lean product design for customer acquisition?