Abstract
Since the industrial revolution, the global industrial economy continues to expand rapidly. The automotive industry enabled people to live outside of cities and commute in. The aerospace industry has linked not only states but entire countries. Henry Ford’s assembly line revolutionized the way things were manufactured. At the heart of every successful design and manufacturing company is an efficient new product development process. This process allows engineers to understand their customers’ desires and make quantitative and qualitative decisions about what features to design into their product. Companies that can rapidly innovate, deploy product development strategies, and integrate tooling suppliers are likely to gain and maintain market share.
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Notes
- 1.
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Acknowledgement
Tugrul Daim’s contribution to the book chapter is based on the study funded by the Basic Research Program of the National Research University Higher School of Economics (HSE) and by the Russian Academic Excellence Project ‘5-100’.
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Leung, C., Hsiao, A., Hobernicht, M., Camp, K., Kung, V., Daim, T.U. (2020). New Product Development. In: Daim, T.U., Meissner, D. (eds) Innovation Management in the Intelligent World. Science, Technology and Innovation Studies. Springer, Cham. https://doi.org/10.1007/978-3-030-58301-9_2
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