Using a hybrid MCDM methodology to identify critical factors in new product development

Tsu Ming Yeh, Fan-Yun Pai, Cheng Wei Liao

Research output: Contribution to journalArticle

28 Citations (Scopus)

Abstract

With increased global competition, businesses now face a more complex and dynamic competitive environment and need to develop more innovative products with higher quality and shorter product life cycles. New product development (NPD) is the keys to the success of a business, where both critical success factors (CSF) and key performance indicators (KPI) will affect the outcome of a NPD project. This study utilizes both CSF and KPI to examine the critical factors of NPD with the methodology of multiple criteria decision making and investigates the correlations of critical factors with fuzzy decision-making trial and evaluation laboratory and establishes the weights affecting NPD in the criteria with the fuzzy analytic hierarchy process (FAHP) approach. The results assist managers in selecting suitable competitive strategies, making the optimal allocation of limited resources, achieving the greatest increase in benefits, and promoting the overall success of NPD. The findings show that there are various correlations between the critical factors, where 'products and customers' have the most influence on other dimensions. Moreover, the top five critical factor criteria weights, constructed by FAHP, are 'quality standard of new products', 'complete quality management system', 'consumer satisfaction', 'excellent planning and control', and 'support of top managers'.

Original languageEnglish
Pages (from-to)957-971
Number of pages15
JournalNeural Computing and Applications
Volume24
Issue number3-4
DOIs
Publication statusPublished - 2014 Mar 1

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All Science Journal Classification (ASJC) codes

  • Software
  • Artificial Intelligence

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