Enhancing New Product Development Effectiveness With Internet of Things Origin Real Time Data

2018 ◽  
Vol 20 (3) ◽  
pp. 21-35 ◽  
Author(s):  
Samir Yerpude ◽  
Tarun Kumar Singhal
Keyword(s):  
Product Development ◽  
Real Time ◽  
New Product Development ◽  
New Product ◽  
Product Development Process ◽  
Primary Data ◽  
Time Data ◽  
Organizational Boundaries ◽  
Real Time Data ◽  
The Impact

The purpose of this article is twofold. First is to ascertain and establish the collaboration required between different stakeholders in the fundamental process of New Product Development (NPD). Augmentation of the process with the IoT origin real time data to enrich the efficacy of the New Product Development process forms the second part of the study. The primary data is collated from over 100 plus professionals while the qualitative data required for the second part is collated with the help of focused group interviews. The Likert scale with five points was deployed to record the opinions. The empirical analysis supports the theory that an effective collaboration is required between the different entities such as Sales, Marketing, R&D and going beyond the organizational boundaries Suppliers & Customers for the new product to be fruitful and successful in the market. The impact of using the IoT origin real time data on the effectiveness of the New Product Development is evaluated. In the current scenario for an organization to lead the market, it is essential that it has a descent product roadmap and an effective NPD. The current study reveals the importance of the NPD and contributes towards making it more effective with the IoT origin real time data.

Digitally driven new product development: an involved contemporary innovation case

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Samir Yerpude ◽  
Sonica Rautela
Keyword(s):  
Product Development ◽  
Sentiment Analysis ◽  
Real Time ◽  
New Product Development ◽  
New Product ◽  
Time Data ◽  
Content Type ◽  
Customer Data ◽  
Real Time Data ◽  
The Impact

PurposeThe purpose of this paper is to study the impact of real-time data emerging from implementation of the Internet of Things (IoT) and netnography on the efficiency of the new product development (NPD).Design/methodology/approachCustomer-oriented organizations are the ones that survive in the market with a flow of new products to the market. Expectations like reduced timelines with quality focus provoke innovations. Customer inputs become the soul for a successful product wherein it becomes important to keep a constant stream of information flow back from the market. Literature review states that real-time data gathering with the implementation of IoT ensures the same. Along with real-time data, researchers have envisaged the need to identify the customer persona before incorporating customer opinion and sentiments vide netnography.FindingsThe organization can leverage the collaboration of IoT origin real-time data and sentiment analysis to effectively manage the NPD. Real-time customer data coupled with customer opinions and sentiments prove to be a game changer in the NPD process.Originality/valueThe originalities of this study are impact of IoT origin real-time data coupled with sentiment analysis on the NPD process. While impact of IoT origin data is reported in isolation similar to sentiment analysis, influence of collaboration of real-time data with sentiment analysis on NPD process is reported in this study.

Evaluating the Discriminatory Value and Reliability of Ideation Metrics for Their Application to Concept Development and Prototyping

2017 ◽  
Author(s):  
Jessica Menold ◽  
Kathryn Jablokow ◽  
Timothy Simpson ◽  
Rafael Seuro
Keyword(s):  
Product Development ◽  
New Product Development ◽  
New Product ◽  
Concept Development ◽  
Product Development Process ◽  
Concept Generation ◽  
Market Place ◽  
Design Changes ◽  
The Impact ◽  
Original Concept

Approximately half of new product development projects fail in the market place. Within the product development process, prototyping represents the largest sunk cost; it also remains the least researched and understood. While researchers have recently started to evaluate the impact of formalized prototyping methods and frameworks on end designs, these studies have typically evaluated the success or failure of these methods using binary metrics, and they often evaluate only the design’s technical feasibility. Intuitively, we know that a product’s success or failure in the marketplace is determined by far more than just the product’s technical quality; and yet, we have no clear way of evaluating the design changes and pivots that occur during concept development and prototyping activities, as an explicit set of rigorous and informative metrics to evaluate ideas after concept selection does not exist. The purpose of the current study was to investigate the discriminatory value and reliability of ideation metrics originally developed for concept generation as metrics to evaluate functional prototypes and related concepts developed throughout prototyping activities. Our investigation revealed that new metrics are needed in order to understand the translation of product characteristics, such as originality, novelty, and quality, from original concept through concept development and prototyping to finalized product.

scholarly journals The Impact of Concurrent Engineering Strategy on New Compex Product Development Process in Organization: An Empirical Study of Manufacturing and Service Industry in Malaysia

2013 ◽  
Vol 61 (1) ◽  
Author(s):  
Amran Rasli ◽  
Saif ur Rehman Khan ◽  
Tan Owee Kowang
Keyword(s):  
Product Development ◽  
New Product Development ◽  
Concurrent Engineering ◽  
Development Process ◽  
Service Industry ◽  
Reliability And Validity ◽  
New Product ◽  
Product Development Process ◽  
The Impact ◽  
New Product Development Process

Taking into account the customers, supplier and organization involvement in the new product development (NPD), this article focuses on the synthesis, evaluation, and selection of various sub-factors of concurrent engineering involved in new product development process. The aim of this study was to provide the reliability and validity of six sub-factors of concurrent engineering model of the 49-item questionnaire and to analyze its association with concurrent engineering and new product development process in a sample of 35 manufacturing and services organization located in Johor, Malaysia. Methods: A self reported survey was conducted in 35 manufacturing and services organization located in Johor, Malaysia. Results: Appropriate internal consistencies of the six sub-scales: customers relationship, team development, continuity, tools and techniques, suppliers involvement and corporate focus and their association with concurrent engineering, were obtained. Zero-order correlation and regressions analysis replicated the theoretically assumed structure of the effective concurrent engineering (ECE). Evidence of criterion validity was obtained from cross-correlations of the scales and from their linear and multiple regression analysis. Finally, all seven scales were associated with a highly significant ratio of concurrent engineering as predicted by fundamental theory. Conclusion: Based on the results of this study the seven version of the model, questionnaire is considered a reliable and valid instrument for measuring association in developing the new complex product development process.

Advantages of Time-Based New Product Development in a Fast-Cycle Industry

1997 ◽  
Vol 34 (1) ◽  
pp. 36-49 ◽  
Author(s):  
Srikant Datar ◽  
C. Clark Jordan ◽  
Sunder Kekre ◽  
Surendra Rajiv ◽  
Kannan Srinivasan
Keyword(s):  
Product Development ◽  
New Product Development ◽  
Market Share ◽  
Lead Time ◽  
Development Process ◽  
New Product ◽  
Product Development Process ◽  
Concept Generation ◽  
Volume Production ◽  
The Impact

The authors study the impact of time-based product development on sustainable market share gains in a high-technology computer component industry. Three dominant firms, with international new product development and manufacturing facilities, have introduced more than 200 new products into this fast-cycle market in a five-year period. The authors systematically examine the leads and lags at critical stages of the product development process: concept generation, prototype completion, and volume production. Their main finding is that lead-time advantage affects market share positively, albeit differentially, at each stage. The benefit of lead-time gain is greatest at the volume production stage, followed by the concept generation stage. The authors also develop a new notion of lead-time threshold—a time period in which if a competitor catches up, no market share gain is achieved by the firm that introduces the product first. They endogenously estimate the magnitude of the threshold for each stage of the product development process, observing that a significant threshold is present at both the concept generation and volume production stages. Finally, the structure of the development process, which differs across the firms in the market, affords significant differential ability to catch up with competitors.

INVESTIGATING THE IMPACT OF RADICAL TECHNOLOGY ADOPTION INTO THE NEW PRODUCT DEVELOPMENT PROCESS

2019 ◽  
Vol 24 (04) ◽  
pp. 2050035
Author(s):  
SAJNA IBRAHIM ◽  
MICHAEL OBAL
Keyword(s):  
Product Development ◽  
New Product Development ◽  
New Technologies ◽  
New Product ◽  
Negative Influence ◽  
Product Development Process ◽  
Product Launch ◽  
The Impact ◽  
Radical Technologies ◽  
Npd Performance

Product developers are increasingly often faced with the decision of whether or not to adopt new technologies into their own new product development (NPD) processes. Adopting a resource-based perspective, we posit that the adoption of radical technologies into the NPD process, such as remote collaborative design, virtual reality, and simulation systems, can help improve NPD performance. At the same time, these adoptions are likely to slow down product launch. Just as consumers struggle to integrate radical technologies during the short-term, we propose that new product developers will face a similar learning curve. Therefore, we investigate potential moderators that could help product developers quickly integrate radical technologies and lessen their negative influence on product launch timeliness. A wide-ranging survey of 249 product managers sponsored by an international product development organisation is used in this study. The results reveal that while the adoption of radical technologies benefits NPD performance, the adoption tends to slow down the product launch process. However, cross-functional leadership within the organisation helps to lessen this negative influence on launch timeliness. The results from this study offer product managers practical guidelines for successfully adopting radical technologies into the NPD process and mitigating risks.

scholarly journals Social Media Analytics and New Product Development

2019 ◽  
Vol 8 (11) ◽  
pp. 3682-3686
Keyword(s):  
Social Media ◽  
Product Development ◽  
New Product Development ◽  
New Product ◽  
Product Development Process ◽  
Social Media Analytics ◽  
User Behaviors ◽  
Service Portfolio ◽  
Social Media Platforms ◽  
The Impact

Social Media, due to its ubiquitous nature, has permeated into the daily lives of the customers of the organizations. The existing and prospective customers are increasingly engaged with the organizations through a two-way communication channel, which is almost always available to them. Through these engagements, an enormous level of data (big data) is being generated on social media platforms. However, this data, generated on social media platforms, is highly unstructured in nature that needs to be organized before suitable inferences can be drawn to facilitate the decision making by the organizations. This data is analyzed through social media analytics to understand the experiences, expectations, user behaviors, among others to improvise or innovate the existing product/service portfolio or to develop new products. This paper has attempted to understand the impact of social media analytics on the effectiveness of new product development activities and has also tried to emphasize the need for analyzing the data being generated on social media for enhancing the new product development process.

“Custolytics”

2019 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Samir Yerpude ◽  
Tarun Kumar Singhal
Keyword(s):  
Real Time ◽  
New Product Development ◽  
Emerging Market ◽  
Customer Engagement ◽  
Time Data ◽  
Loyalty Program ◽  
Content Type ◽  
Real Time Data ◽  
Customer Analytics ◽  
The Impact

Purpose The purpose of this paper is to build a customer engagement strategy for an emerging market using the Internet of Things (IoT) origin real-time data analytics for a classical retail business to customer domain. Design/methodology/approach The study presented is twofold. First, it empirically tests a theoretical model where the impact of different parameters influencing customer engagement are validated, and its influence on the resultant parameters, i.e. brand loyalty and brand ambassador, is analyzed. Second, it emphasizes on the use of real-time IoT origin data in customer analytics to determine a customer engagement strategy. Findings Results indicate that the four parameters, i.e., value propositions basis the buying patterns, loyalty programs, personalized communication and involving the customer in the new development process are influencing customer engagement positively, whereas the parameter loyalty program scores the maximum regression weight. IoT plays a crucial role in generating the real-time data used for generating customer analytics that proves to be vital for the longevity of the organization. Practical implications The organizations need judicious blend of four parameters such as value proposition based on buying patterns, participation in new product development, personalized communication and loyalty program while designing the customer engagement strategy. Results drawn from the focused group interview highlight the power of IoT origin real-time data in the customer analytics further strengthening the need of customer centricity in an organization. Originality/value Identified need of building a customer engagement strategy for an emerging market with the help of IoT data is addressed in this paper that is identified as an unexplored area and a research gap.

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