Product Development Considerations
- 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