New Product Development Process
Do you have an idea about how to make something better? Have you thought of a solution to a problem, but don’t know how to implement it? Are you wondering if you should first get a patent for your idea or build a prototype? Do you wonder how to build a business plan before a design has even been developed? Are you asking yourself how much will everything cost?
These are all typical questions we receive from customers both big and small. From automotive OEM’s to small businesses and entrepreneurs, the path to new product development can be a tricky one. With numerous steps and options along the way, creating the appropriate new product development plan for your business is crucial to a successful launch.
The New Product Development Process
The New Product Development Process ensures that you've addressed all your business needs when creating your new product. The development process varies based on a number of things. The following list shows each possible step along the way. Not all of the steps are needed. Once you have a basic business plan outlined, then you’ll also have a better idea of what your unique product development process will look like.
- Generating ideas and formulating concepts
- Creating the basic bill of materials
- Creating a basic business plan
- Performing a business case review and feasibility determination
- Developing the concept
- Performing DFMEA (design failure mode engineering analysis)
- Created a detailed business plan
- Design engineering
- Performing engineering hand calculations
- Performing CAD including FEA and computational fluid design
- Performing analysis and computational design
- Mathematical modeling and multi-domain simulation
- Developing the prototype
- Testing and design validation
- Product validation
There are several key steps in new product development that we can help you with. Whether you need help with generating ideas, refining your concept or outlining your strategy, we can guide you. We will work with you as quickly and efficiently as possible to understand the concept, understand the technological and manufacturing risks & liabilities, and then understand the business case so that you can make an educated decision on how and when to move forward.
Often when a new product launch is unsuccessful, it’s due to poor execution, not a bad idea. Allow our combined talents & years of experience help guide you through the process of new product development to a successful product launch.
Concept Realization describes the process by which your idea is transformed from a series of thoughts into a well-documented and tangible solution. It is the cornerstone of the product development process. Feasibility determination should be done during this stage, as should product rendering, or at the very least, product sketching. The general size and shape of the product is determined, basic functionality is outlined, and key features and differentiating factors is highlighted.
We’ve assisted a wide range of customers who have come to us with a problem or an idea, from barbecue grill hinges to electric race cars and all sorts of products in between. We help our customers realize their idea to a maturation point where certain critical estimations can be made including the basic size and shape of the product, what it will look like, what materials to use, how it will be made, etc.
Here at MWW1, we have a diverse and talented team of engineers, machinists, fabricators, and supply chain experts that all add tremendous value at these early stages of new product development. By realizing a concept that not only performs its intended function well, but also includes considerations to manufacturing, material handling, supply chain sourcing as well as distribution, our customers can save a tremendous amount of time and money downstream, by having the right people in the room while realizing their concept.
Regardless of the size and scope of your product development project, a certain level of project planning is necessary in order to manage finances and ensure a successful launch. Once the concept realization phase is complete, a Rough Order of Magnitude (ROM) Bill of Materials (BOM) may be drafted in order to estimate product costs and supply chain strategies.
A basic project development & productionization plan can then be created in order to more fully understand the necessary capital investment and lead times involved. Break even and profit projects can also be developed at this time, allowing our customers to make early, educated decisions and changes regarding their concept in order to create a project plan which fulfills their needs.
Does your current development strategy take into account these financial factors? Have you considered exactly how you’ll get the right suppliers and how they will fit into your supply chain? How are you going to test your product in order to ensure it performs effectively and safely? Will you offer a warranty and if so, for how long?
Years of product development experience has allowed us to create a robust and efficient product development system and strategy. Leveraging our engineering, manufacturing and supply chain expertise, we can help you go from concept to functioning prototype faster and more efficiently than our competitors. Our primary goal at the end of the product development phase is to have accurately quantified the performance and reliability characteristics of the product.
So you’ve turned your idea into a prototype and demonstrated its capability and uses. But how do you turn that prototype and stack of prints into actual production units. How many should you buy, and from where? What if your product requires assembly - is that something you want to take on yourself or do you want to outsource it?
Turning your prototype product and stack of engineering prints into assembled and packaged units ready for shipment is a process unto itself. MWW1 can help you make educated decisions on how to do a successful productionization. We’ll help with your questions including but not limited to:
- make vs. buy
- quantity vs. price purchased
- inventory management
- supplier contract negotiations
- material handling
- sub assembly
- order fulfillment
Having a successful new product development launch is no small task and you’re not over the finish line yet. We’ve seen multiple companies with great ideas, great employees, and poor planning and execution of the productionization phase. It’s a common trait among companies to invest in R&D and then thrift on supply chain and assembly. At MWW1 we are experienced in the lean and six sigma practices, and we have also developed our own bespoke practices to ensure robust supply chain and assembly processes from conception. This includes appropriate continuous improvement practices and methodologies.