The pink areas of the template expand and are for you to fill in. The clears areas detail owe marks will be awarded. Student Name: Binary Sara Mathew Student ID 5864717 Taught by (please tick) Dry Hooper (Monday Evening and Friday Groups) O Alan Richards (Wednesday Group) Andrew Bell (Thursday Group) Dry Albania (Monday Morning Group) Project Title: A study on innovation of new product development method by using lean techniques and tools Feed Back Excellent Good Average Poor Does the title use Masters level language?
Refer to Bloom’s Taxonomy Has the student thought about the breadth of work required? Is there enough for a Masters project without being too broad / narrow? General English and style of language (no acronyms) Abstract/ Summary: please provide some background about the project, company, situation and overall summary as to the nature of problem and what is required (approve 500 words) The main aim of this project is to find ways to improve the new product development method with the help of lean tools and techniques.
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In today’s competitive market, it is very important that new product is introduced in a way that it can attract the customers as well as bring revenue to the organization. As there is a need for developing new products into the markets n order to stay competitive; this can be done through introduction of new technologies, innovation as well as advancing in research and development. Hence, for developing a product a practical approach such as lean product development can be used for reducing the inventory, eliminating waste as well as provides a visual mechanism to the product development process (Anally et al. 999). Through lean concepts, it helps in giving better idea on the flow of the process and by making good decisions to deliver an innovative process in product development (Sea. Erg, 2014). Lean practices are generally allied with high performance in number of studies of world class manufacturing and through applying lean practices helps in improving the operational performance as well (Aspidistra et al. 1 997; Gift et al. 1990).
Furthermore, the lean product development helps in meeting the customer demands in terms of quality, the market trends, providing faster services etc. Lean is an approach used as a continuous improvement tool for achieving better performance by reducing the waste and time taken in the whole business process. The main advantages of lean practices are improvements in the quality as well as productivity in labor, reduction in manufacturing costs, cycle time and customers lead time (Schoenberg 1982; White et al. 1999).
For applying lean in an organization, providing a good quality must be taken into concern in order to achieve customer satisfaction as well as to increases the company’s business. It is very important to achieve customer satisfaction as its one of the most the significant measures in order to stay competitive in the market. In developing the new product, customer needs should be taken onto concern throughout the process so that there would be fewer issues once the entire production begins (Flynn et al. , 1994).
In order for the organizations to survive it requires to develop new product, investing on research and development, proper planning and utilizing the long term strategies. Another lean tool that can be used in product development process is the value stream mapping for faster and reducing the cost. This tool is effective as it helps in improving the products quality by reducing the lead time. Moreover, in the production process, this tool enables to identify the waste armed in each process. By implementing lean, it helps in resolved issues associated with the new product development.
This reports aims to create innovative products through lean at a minimal speed, improve the quality and reduce the costs in order to achieve customer satisfaction. A number of companies have used lean techniques to achieve the expected speed to market. Hence, the use of lean has progressed from manufacturing to product development. The organizations that have implemented these lean methods have achieved good results in level of scheduling, improving quality as well as meeting the customer needs.
Hence, through implementation of lean techniques for product development; it can help in making decisions and provides better ideas throughout the process which is accomplished by advancement in the development Of value Stream and forming process. Is there some background to the project? Does it describe the nature of the problem to be investigated? Does it include an AIM for the project? Is this aim detailed enough for the reader to understand what the project is? Are there at least 2 good references correctly referenced?