Abstract: The new product development (NPD) literature emphasizes the importance of introducing new products on the market for continuing business success. New products are responsible for employment, economic growth, technological progress, and high standards of living. Therefore, the study of NPD and the processes through which they emerge is important. The goal of our research is to propose a framework of critical success factors, metrics, and tools and techniques for implementing metrics for each stage of the new product development (NPD) process. An extensive literature review was undertaken to investigate decades of studies on NPD success and how it can be achieved. These studies were scanned for common factors for firms that enjoyed success of new products on the market. The paper summarizes NPD success factors, suggests metrics that should be used to measure these factors, and proposes tools and techniques to make use of these metrics. This was done for each stage of the NPD process, and brought together in a framework that the authors propose should be followed for complex NPD projects. While many studies have been conducted on critical success factors for NPD, these studies tend to be fragmented and focus on one or a few phases of the NPD process.
Abstract: In recent decades, the lean methodology, and the
development of its principles and concepts have widely been applied
in supply chain management. One of the most important strategies of
being lean is having efficient inventory within the chain. On the other
hand, managing inventory efficiently requires appropriate
management of safety stock in order to protect against increasing
stretch in the breaking points of the supply chain, which in turn can
result in possible reduction of inventory. This paper applies a safety
stock cost minimization model in a manufacturing company. The
model results in optimum levels and locations of safety stock within
the company-s supply chain in order to minimize total logistics costs.
Abstract: The Canadian aerospace industry faces many
challenges. One of them is the difficulty in estimating costs. In
particular, the design effort required in a project impacts resource
requirements and lead-time, and consequently the final cost. This
paper presents the findings of a case study conducted for recognized
global leader in the design and manufacturing of aircraft engines. The
study models parametric cost estimation relationships to estimate the
design effort of integrated blade-rotor low-pressure compressor fans.
Several effort drivers are selected to model the relationship.
Comparative analyses of three types of models are conducted. The
model with the best accuracy and significance in design estimation is
retained.