Chapter 4 - Product/process innovation. After completing this chapter, students will be able to: Explain importance of innovation to firm performance, contrast innovation strategies and projects, describe new product/process design and development objectives and project phases, explain importance of cross-functional integration, describe and use tools for integrating customer and SC considerations into projects. | Copyright © 2014 McGraw-Hill Higher Education. All rights reserved. CHAPTER 4 Product/Process Innovation McGraw-Hill/Irwin 1 Learning Objectives LO4-1 Explain importance of innovation to firm performance LO4-2 Contrast innovation strategies and projects LO4-3 Describe new product/process design and development objectives and project phases LO4-4 Explain importance of cross-functional integration LO4-5 Describe and use tools for integrating customer and SC considerations into projects 4–2 2 Design and Development Definitions 4–3 New Product Design and Development: transform market opportunities or new technologies into product design specifications New Process Design and Development: transform product specifications or technology into a new or revised production strategy LO4-1 3 Product Life Cycle Definitions 4–4 Launch: introduction into the market and may require SC process innovation Growth: increasing demand, flexible SC, more data from customers, increasing standardization . | Copyright © 2014 McGraw-Hill Higher Education. All rights reserved. CHAPTER 4 Product/Process Innovation McGraw-Hill/Irwin 1 Learning Objectives LO4-1 Explain importance of innovation to firm performance LO4-2 Contrast innovation strategies and projects LO4-3 Describe new product/process design and development objectives and project phases LO4-4 Explain importance of cross-functional integration LO4-5 Describe and use tools for integrating customer and SC considerations into projects 4–2 2 Design and Development Definitions 4–3 New Product Design and Development: transform market opportunities or new technologies into product design specifications New Process Design and Development: transform product specifications or technology into a new or revised production strategy LO4-1 3 Product Life Cycle Definitions 4–4 Launch: introduction into the market and may require SC process innovation Growth: increasing demand, flexible SC, more data from customers, increasing standardization Maturity: demand and product stabilization, increasing importance of cost, process innovation to increase SC efficiency Decline: changing technology or customer needs, declining demand, potential phase in of a replacement product LO4-1 4 Innovation Affects Performance 4–5 LO4-2 5 New Product/Process Launch and Learning Management of a progression of projects Capture lessons learned post launch Learning applied to next project Continuous chain of projects adds to capabilities 4–6 LO4-2 6 Product/Process Design and Development: Stages 4–7 LO4-3 7 Product/Process Design and Development: Managing Stages The Stage-Gate process: resources allocated on stage-by-stage completion Concurrent engineering: simultaneous (not sequential) Design for the customer: use of multiple customer focused tools Design for supply chain operations: use of multiple supply chain or product techniques 4–8 LO4-3 8 Concurrent Engineering 4–9 Figure 4-4 LO4-4 9 Design for the Customer Voice of the Customer (VOC): gather .
