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Understanding Value-adds of Global Product Development Approach
Understanding Value-adds of Global Product Development Approach
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Understanding Value-adds of Global Product Development Approach

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Technological innovations and advent of globalization together has been instrumental in business expansion across regions beyond geographies. This has also led to increased interdependence and …

Technological innovations and advent of globalization together has been instrumental in business expansion across regions beyond geographies. This has also led to increased interdependence and collaboration between countries as well as the growth of multicultural and multi-nationa working environment in present day enterprises. With consumers spread across the world, the globalized business now needs to be well equipped to meet the requirements of the global customer base as well as for the challenges in product development.

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  • 1. Understanding Value-adds of Global Product Development Approach Technological innovations and advent of globalization together has been instrumental in business expansion across regions beyond geographies. This has also led to increased interdependence and collaboration between countries as well as the growth of multicultural and multi-nationa working environment in present day enterprises. With consumers spread across the world, the globalized business now needs to be well equipped to meet the requirements of the global customer base as well as for the challenges in product development. Product development being a mission critical process involves many risks. To retain an edge over their competitors, enterprises are forced to invest their revenue into the product development process. However, with advancement of technology enterprises can make use of applications such as computer-aided-designs, computer-aided manufacturing and product life cycle management software to take a closer look at the global product development requirements before investing in it. Global Product Development process is the system used to maximize the financial and operational productivity of products by spreading the product development activities across the multiple locations and even to multiple regions that would bring in the best value-add with reduced cost. This process however involves identifying and documenting customer needs, conceptualizing, designing engineering activities, analyzing new product ideas as well as planning and documenting manufacturing activities. Nevertheless, with expansion having brought in large customer base, there has also been an increase in demands for quality, reduced time-to-market and low costs. Enterprises therefore need to strategically work out their supply chain and product design and development systems for faster delivery schedules. The global product development approach offers enterprises with significant advantages such as:  Greater engineering efficiency  Utilization of low-cost resources  Access to internationally distributed technical expertise and better product designs  Faster time to market  Low production cost  Greater flexibility Further, the global product development framework not only optimizes on-site and off- shore resourcing, but also provides engineering support to customers of varying team sizes. Moreover, this also enables enterprises to:  Understand key organizational challenges.  Identify core and non-core engineering processes.  Enables internal departments to support core activities.  Partners and supports non-core activities.
  • 2.  Provides a flexible team to support peak load requirements. Outsourcing the services from leading global engineering and manufacturing service providers will help enterprises make global product development a more realistic concept. These leaders in the industry leverages on the Global Product Development (GPD) framework and collaborates with a number of high-tech enterprises across various industries. Strategic partnering with such leaders will help globally spread enterprises with innovative technology solutions that will give them a competitive advantage. For more information visit - Power generation engineering

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