Network Based High Speed Product Development

Description: In the first decade of the 21st century product development in networks was predicted to be of ever-increasing importance to businesses of all sizes because of changes in markets, in technology, in networks, and in the competences of Businesses. The growth in new products' share of businesses' total turnover and earnings were increasing at an unprecedented speed. The entrepreneurial innovations and technological improvements had resulted in the increasingly fast development of new products and services. Businesses and industries in different countries became increasingly more linked and interdependent in networks with respect to materials, business operations and particularly product development to match the wants and needs of the global market environment to high speed product development. Businesses were therefore encountering increasingly dynamic market fragmentation, shrinking time in market, increasing product variety, demands of production to customer specifications, reduced product lifetimes, and globalization of production.

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