TABLE OF CONTENTS Part One outlines the opportunities for focusing on product development, introduces lean fundamentals, and shows how these concepts relate to the product development process.
The current environment in which we conduct business is more intense and dynamic than it has ever been. Clearly, today we live in a world of rising expectations. As we continue to move forward in the global economy and competition continues to increase, customers needs are also increasing. This is not an issue that affects only certain industries; rather, it's an issue that has an impact on all businesses. Today's information age provides customers with access to more kinds of knowledge and information about products and markets than were ever explored before. With this access, customers are afforded the luxury of being highly selective in the products they purchase, resulting in an intensely competitive business environment.
Consequently, customers are demanding price reductions in the products they purchase. They're looking for improvements in on-time delivery and shorter cycle times in developing and bringing products to market. They want their products to work right with low maintenance costs, and, finally, they're looking for a variety of products that match their changing needs. For these reasons, it's fair to conclude that today's customers are clearly more demanding than they've ever been.
So what effect do these ever-increasing demands have on companies that provide products to these customers?
