Product development determines 80% of product cost. Significant costs can be reduced by design for the right parts, a substitutable supply chain from the beginning, labor, materials overhead and quality
New Product Introduction
Significant cost can be avoided by ensuring proper management of the pre-production builds, development schedule, and initial ramp-up.
It is also critical for companies to effectively manage the Product Life Cycle (PLC) of all products by defining the policies, high-level guidelines and best practices to be used for managing PLC.