New product development: Speed and quality

Dinesh H. Wadhwani, Roger G. Schroeder

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

The literature has generally advocated faster new product development (NPD). But, increasing the speed of NPD also has its risks and possible costs, unless waste is simply being eliminated from the NPD process. Also, waiting too long to introduce a product has potential negative consequences in terms of missing the market and increasing development costs. As a result, we suggest there exists an optimal development time and formulate a mathematical model to determine the best NPD time which maximizes profit to the firm. This model is then solved for its optimal NPD time and the resulting implications of the model for managers are explained.

Original languageEnglish (US)
Title of host publicationProceedings - Annual Meeting of the Decision Sciences Institute
Editors Anon
PublisherDecis Sci Inst
Pages1370-1372
Number of pages3
Volume3
StatePublished - Jan 1 1998
EventProceedings of the 1997 Annual Meeting of the Decision Sciences Institute. Part 1 (of 3) - San Diego, CA, USA
Duration: Nov 22 1997Nov 25 1997

Other

OtherProceedings of the 1997 Annual Meeting of the Decision Sciences Institute. Part 1 (of 3)
CitySan Diego, CA, USA
Period11/22/9711/25/97

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