While Lean principles have been known and applied in a variety of manufacturing processes, the applications in product development have been slower to come. Several companies have also applied Lean to ...

Product development brings with it many misconceptions about what the process is truly like and how to ensure you're getting the most out of those you've hired to help. Be it product design, ...

The Fast Company Executive Board is a private, fee-based network of influential leaders, experts, executives, and entrepreneurs who share their insights with our audience. BY Kevin Bailey Artificial ...

A product development strategy provides a framework for creating new products or improving the performance, cost or quality of existing products. The strategy helps a company achieve business goals, ...

Product development, no matter the industry, is both an art and a science. Bringing a concept to life requires intensive research, ingenuity, risk-taking, iteration, testing, and a little magic. More ...

The sudden emergence of ChatGPT in 2022 kicked off a race to create new products powered by generative artificial intelligence (AI). Now, companies in all industries are trying to build the ability to ...

Product development programs meet two types of measurable goals – goals that relate to the product itself and goals that integrate product development with broader business goals. Product-related ...

James M. Morgan and Jeffrey K. Liker, authors of The Toyota Product Development System, Integrating People, Process and Technology (2006, Productivity Press), offer the following product development ...

The overall process of strategy, organization, concept generation, product and marketing plan creation and evaluation, and commercialization of a new product Innovative new products are the fuel for ...

Outsourcing your product development requires various considerations, including requirement analysis, selecting the suitable cooperation model, hiring an agency or freelancer and avoiding a few ...