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Article: Stages and gates: new product development ideally includes checkpoints that allow team members to evaluate whether the project is, in fact, viable.
- Article from:
- Food Processing
- Article date:
- June 1, 2003
- Author:
CopyrightCOPYRIGHT 2003 Putman Media, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Once a company has identified the need to improve its new product development process, the next step is to implement those necessary improvements. But how?
Companies successful in new product development follow a step-by-step process that serves as a template, albeit one that may be modified and improved over time. The new product process articulates and endorses both best practices and organizational expectations, and aims for success in quantifiable terms. Success will be observed in four primary ways.
* reaching market faster with fewer unwanted surprises;
* creating multiple options from which to make informed choices about those to pursue; ...