2018 ◽  
Author(s):  
Rahi Jain ◽  
Padma Venkatasubramanian

Ayurveda is a traditional medical system of the Indian sub-continent, catering to healthcare of millions of people in India. In today’s times, Ayurveda requires scaled-up production and scientifically proven products. This in turn requires trans-disciplinary methodologies for product development that can leverage the existing knowledge in both Ayurveda and modern science and technology. Product Development in general has two steps, research and development (R&D) and manufacturing. Among the two, unlike in allopathic drugs, R&D in Ayurveda for new product development is in its nascent stage, lacking adequate references on modern methodologies. Such references are important in particular to new comers in the sector. The scope of this paper is to provide a write-up of the Ayurvedic processes and to propose a guideline for Ayurvedic product development that can be used for R&D. The methodology proposed was arrived at by referring selected classical Ayurveda texts and interacting with traditional and modern bio-medicine experts at the Trans-disciplinary University, Bengaluru, Karnataka, India. The study documents three components in Ayurvedic product development namely product formulation-identification, product formulation-preparation and product formulation-validation which can be used to design the Ayurvedic product development methodology. The study also provides the role of different stakeholders in the Ayurvedic product development process. The study provides a methodology to design new Ayurvedic products before being taken up for manufacturing.


2007 ◽  
Vol 5 (1) ◽  
pp. 59 ◽  
Author(s):  
Eder Oliveira Abensur

New Product Development (NPD) is recognized as a fundamental activity that has a relevant impact on the performance of companies. Despite the relevance of the financial market there is a lack of work on new financial product development. The aim of this research is to propose the use of Genetic Algorithms (GA) as an alternative procedure for evaluating the most favorable combination of variables for the product launch. The paper focuses on: (i) determining the essential variables of the financial product studied (investment fund); (ii) determining how to evaluate the success of a new investment fund launch and (iii) how GA can be applied to the financial product development problem. The proposed framework was tested using 4 years of real data from the Brazilian financial market and the results suggest that this is an innovative development methodology and useful for designing complex financial products with many attributes.


2017 ◽  
Vol 2017 ◽  
pp. 24-28
Author(s):  
Fabio Shimabukuro Sandes ◽  
◽  
Fundacao Getulio Vargas

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