This is a presentation given to start-ups at the NJIT Business Incubator on how to do a better job a developing products

1. NJIT-EDC
Monthly Entrepreneurship Gathering
Thursday, February 10, 2011
Topic:
Product Development Considerations
Presented by:
Tom Smith
Managing Director
Focused Solutions Group
Focused Solutions Group – fsgnj.com
Management and Technical Services for Manufacturers

2. Who is Focused Solutions Group?
• NJ-based S-Corp. established 1998
• Provides operational support for Manufacturers/Distributors
• “virtual” with Tom Smith as Project Manager
• Associates on board for large projects or needing other expertise
• Complimentary Business Interview (in No NJ)
• All Industries
• Areas of Expertise
GENERAL MANAGEMENT / PLANNING FINANCIAL SYSTEMS
ENGINEERING / DESIGN PROJECT MANAGEMENT
PROCESS DESIGN / CONTROL SYSTEM MANUFACTURING / PRODUCTIVITY
PRODUCT DEVELOPMENT CUSTOMER SERVICE
ENVIRONMENTAL MANAGEMENT QUALITY SYSTEM
Focused Solutions Group – fsgnj.com
Management and Technical Services for Manufacturers

3. Today’s Agenda
• R&D Gates
• What are they,
• Why do we want them,
• How to set them
• Design for assembly, reliability and maintenance
• Reduce parts
• Increase quality
• Increase reliability
• Improve ease of repair
• Listen to your customers
• Pricing
• Features
• Ready, Fire, Aim!
• Get prototypes out there!
Focused Solutions Group – fsgnj.com
Management and Technical Services for Manufacturers

4. R&D “Gates”
• What are they?
• Predefined decision points, $$$/hours/deadline
• Why do we want them?
• “Fish or cut bait”
• Minimize $$$/hours/time
• Focus on successes
• How to set them
• Analyze likelihood of success, add contingency
• Listen to customers and investors re timing
• Traditional Project Management
Focused Solutions Group – fsgnj.com
Management and Technical Services for Manufacturers

5. Design for Assembly/Reliability/Maintainability
• Reduce parts
• Benefit: Less components -> labor-, reliability+
• How: Use FEA, molds, tech
• Increase quality
• Benefit: lower defects -> rework labor-, reliability+, customer satisfaction+
• How: detailed specs, processes, validation/testing (ISO/AS)
• Increase reliability
• Benefit: reduced warranty claims -> customer satisfaction+, costs-
• How: MTBF/FMEA calcs, validation/testing
• Improve ease of repair
• Benefit: reduced downtime -> customer satisfaction+
• How: quick-release/snap-in, simple/no tools, modules/assemblies
Focused Solutions Group – fsgnj.com
Management and Technical Services for Manufacturers

6. Listen to your customers
• Pricing
• Business plan
• Analyze market forces (SWOT)
• Scalability/lowest cost
• Strategies – early adopters? Mature pricing?
• Features
• What is needed for base unit
• At what cost
• Upgrade paths, options, accessories
• Premium unit or service
Focused Solutions Group – fsgnj.com
Management and Technical Services for Manufacturers

7. Ready, Fire, Aim!
• Quickly decide on the best introductory product
• Get prototypes/products out there ASAP
• Get customer feedback and tweak the design
Focused Solutions Group – fsgnj.com
Management and Technical Services for Manufacturers

8. Thank you!
A few excellent NJ resources
• www.njtma.com NJ Tooling & Manufacturing Association
• www.njbia.org NJ Business & Industry Association
• www.njmep.org NJ Manufacturing Extension Program
• www.nj.gov/njbusiness NJ Business Action Center
Focused Solutions Group – fsgnj.com
Management and Technical Services for Manufacturers