Searching and Learning by Trial and Error

2011 ◽  
Vol 101 (6) ◽  
pp. 2277-2308 ◽  
Author(s):  
Steven Callander
Keyword(s):  
Brownian Motion ◽  
Life Cycle ◽  
Product Development ◽  
Dynamic Model ◽  
New Product Development ◽  
Product Life Cycle ◽  
New Product ◽  
Trial And Error ◽  
Optimal Behavior ◽  
Complete Knowledge

I study a dynamic model of trial-and-error search in which agents do not have complete knowledge of how choices are mapped into outcomes. Agents learn about the mapping by observing the choices of earlier agents and the outcomes that are realized. The key novelty is that the mapping is represented as the realized path of a Brownian motion. I characterize for this environment the optimal behavior each period as well as the trajectory of experimentation and learning through time. Applied to new product development, the model shares features of the data with the well-known Product Life Cycle. (JEL D81, D83, D92, L26)

Design-Driven Integrated-Comprehensive Model CDFS Strategic Relationships

2014 ◽  
Author(s):  
Sasan T. Khorasani
Keyword(s):  
Supply Chain ◽  
Life Cycle ◽  
Product Development ◽  
New Product Development ◽  
Product Life Cycle ◽  
New Product ◽  
Added Value ◽  
Second Phase ◽  
Star Model ◽  
Product Life

Measuring quality in design-driven innovation is part of the larger subject of product design, supply chain management and new product development (NPD). In other words, better design and supply chain integration increase the efficiency and effectiveness of the production development process. In this work, I have studied the role of understanding the needs of customers and design approaches for new products through a combination of customer feedback and participation of designers in the first phase of new product development. Furthermore, I discuss why the incorporation of both designers and customer needs is important to design-driven innovation. In the second phase of this study, I present several case studies in terms of supplier-buyer relationships in order to find a solution that achieves a long-term relationship (the alliance-star model) in new product development, which is a crucial problem in the Blue Ocean Strategy. Finally, by presenting the CDFS (Customer-Designer-Firm-Supplier) strategic model, we show schematically the integrated-comprehensive process approach for creating a new innovative product from the concept phase through to the end of Product life cycle. This model presents the process of new innovation, which can ensure added value during Product life cycle.

scholarly journals Product Life-Cycle Management and Distributor Contribution to New Product Development

2015 ◽  
Vol 33 (1) ◽  
pp. 69-89 ◽  
Author(s):  
Mariachiara Restuccia ◽  
Ulrike de Brentani ◽  
Renaud Legoux ◽  
Jean-François Ouellet
Keyword(s):  
Life Cycle ◽  
Product Development ◽  
New Product Development ◽  
Product Life Cycle ◽  
New Product ◽  
Life Cycle Management ◽  
Product Life ◽  
Product Life Cycle Management

scholarly journals PENERAPAN METODE STAGE-GATE® PADA INOVASI PRODUK KOPI CELUP DENGAN PEMANIS STEVIA

2018 ◽  
Vol 2 (1) ◽  
pp. 44
Author(s):  
Andy Chandra ◽  
Judy Retti Witono
Keyword(s):  
Life Cycle ◽  
Product Development ◽  
New Product Development ◽  
Business Model ◽  
Product Life Cycle ◽  
New Product ◽  
Value Proposition ◽  
Product Life ◽  
Business Model Canvas

Pengembangan produk baru (New Product Development) diperlukan untuk membuat product life cycle (PLC) yang berkesinambungan. Inovasi harus didukung oleh proses analisis kreatif mendalam agar produk dapat diterima saat diluncurkan ke pasar. Solusi yang ditawarkan adalah manajemen inovasi di perusahaan dalam bentuk co-creation dan breakthrough pada PLC produk yang lebih sesuai dengan keinginan dan kebutuhan konsumen. Metode inovatif yang digunakan adalah metode Stage-Gate®, dimana evaluasi proyek dilakukan secara terukur dan bertahap untuk meminimalkan risiko peluncuran produk baru dari ketidakpastian dan membuat penggunaan sumber daya menjadi lebih efektif dan efisien. Tujuan dari penelitian ini adalah menerapkan metode Stage-Gate® pada inovasi produk kopi celup manis. Produk ini merupakan minuman kopi Arabika dengan pemanis alami yaitu gula Stevia. Hasil yang didapatkan dalam penelitian ini adalah pada setiap pengembangan produk baru, maupun diversifikasi produk yang telah ada, dapat dikembangkan melalui co-creation pada PLC dengan menerapkan metode Stage-Gate® termodifikasi yang dikombinasikan menggunakan perlengkapan lain seperti value proposition canvas dan business model canvas. Dari penerapan metode ini terlihat gambaran dari strategi bisnis yang terukur dan dapat dievaluasi secara bertahap. Pengembangan produk kopi celup manis ini juga dilakukan dengan penggunaan sumber daya yang minimal, yang disesuaikan dengan keinginan dan kebutuhan dari konsumen, serta telah memiliki pasar potensial sejak awal produk ditawarkan.               Kata kunci: Inovasi, PLC, Stage-Gate®, kopi celup, Stevia

THE LIFE CYCLE DIMENSION OF NEW PRODUCT DEVELOPMENT PERFORMANCE MEASUREMENT

2004 ◽  
Vol 08 (02) ◽  
pp. 193-221 ◽  
Author(s):  
PETRI SUOMALA
Keyword(s):  
Life Cycle ◽  
Product Development ◽  
Performance Measurement ◽  
New Product Development ◽  
Product Life Cycle ◽  
New Product ◽  
Life Cycles ◽  
Life Cycle Thinking ◽  
Product Life ◽  
Npd Performance

This paper is concerned with comprehensive performance measurement (PM) of new product development (NPD). The idea of "life cycle conscious" NPD performance measurement is introduced by conducting a conceptual analysis combining product life cycle (PLC) thinking and NPD Performance Measurement (NPD PM). The empirical base of the paper is six case studies that focus on product life cycles and their characteristics within different industrial environments. The paper indicates that there are several ways that NPD PM would benefit from life cycle thinking. Life cycle orientation would provide companies with a feasible framework for constructing the performance measures of NPD, and the framework is likely to reduce the short-termism typically associated with NPD PM. In addition, life cycle could provide help for weighting the criteria and the measures utilized in NPD, for finding a balance for the measurement system, and for directing proper attention towards the comprehensive effects of new products.

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