Utilization of appropriate tools and techniques in the process of new product development (NPD) can assist firms to achieve better performances in launching new products. However, in practice, many useful tools and techniques are not utilized effectively. This study undertakes an in-depth empirical investigation of the appropriate tools or techniques that can be used at each stage of the NPD process. The study also analyzes the impact of individual tools or techniques both on overall NPD performance and on individual performance indicators within the process. The study finds that several NPD tools and techniques (for example, DOE, FMEA/DFMEA, and supplier involvement) have a significant effect on the overall performance of NPD and on a number of performance indicators, but that their utilization is not especially high. In addition, the study finds that DFX, conjoint analysis, and concept test, which also have a significant effect on NPD performance, are relatively neglected by the firms. The study provides valuable guidance to firms in using such tools and techniques more appropriately and effectively.
All Science Journal Classification (ASJC) codes
- Statistics and Probability
- Social Sciences(all)