Abstract
The compulsion to continuous development of new product has resulted in compressed product life cycle.A consequence of this compressed product life cycle is the time crunch or the “schedule pressure” that the new product development (NPD) team in a companyconfronts. The time-to-market or schedule pressure can be one of the main reason of increasing outsourcing activities related to NPD as outsourcing brings together multiple best-in-class suppliers work simultaneously on individual components of a system a nd
Highlights
Technological changes and increased competition have forced the companies to become more market driven and focused on sustaining competitive advantage through continuous stream of new product development (NPD)
25.1% of variability in outsourcing decisions is explained by these three variables.If we look at the significance of the independent variables only “Decrease in NPD cycle time” is found to have an impact on outsourcing decisions
From the regression analysis it is found that 25.1% of the variability in the outsourcing decisions can be attributed to the causes related to schedule pressure with “Decrease in NPD cycle time” being the only significant independent variable
Summary
Technological changes and increased competition have forced the companies to become more market driven and focused on sustaining competitive advantage through continuous stream of new product development (NPD). Contemporary and performing organizations are under tremendous pressure to bring new products and to market them quickly. The task of new product development requires significant investment and time in addition to making various decisionsduring the NPD process. Managers responsible for new product development (NPD) need to constantly improvetheir processes and strengthen core R&D capabilities as pointed by Wheelwright and Clark [1]. New product development (NPD) is vital for all companies. Previous research indicates that the success of new products is dependent upon how professionally the development process is performed. The proficiency of NPD activities has a positive effect on product
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