Photo by: AKS Concurrent engineering is a method by which several teams within an organization work simultaneously to develop new products and services. By engaging in multiple aspects of development concurrently, the amount of time involved in getting a new product to the market is decreased significantly. In markets where customers value time compression, fast-cycle developers have a distinct advantage.

1. Concurrent Engineering Pdf

Concurrent Engineering Pdf

Additionally, in many high-technology areas such as electronics and telecommunications, product-technology performance is continuously increasing and price levels are dropping almost daily. In such areas, a firm's ability to sustain its competitive edge largely depends on the timely introduction of new or improved products and technologies. How to use vsdc video editor. More and more, the time parameter makes the difference between mere survival and substantial profit generation. Concurrent engineering is a key method for meeting this need of shortening a new product's time-to-market. SEQUENTIAL NEW PRODUCT DEVELOPMENT In the past, commercial success was practically guaranteed for companies that could design, develop, and manufacture high-quality products that satisfied real needs at competitive prices. However, beginning in the early 1990s this traditional formula radically changed as time-to-market became a vital component of commercial success. Studies have demonstrated that being a few months late to market is much worse than having a 50 percent cost overrun when these overruns are related to financial performance over the lifecycle of a new product or service.