Product
Data Management (New answer)
Product
data management (PDM) system is a kind of management information system
relative
to core operations of a product-based company. It can manage and track of
creation,
change, and archive the all information related to a product. With PDM, one
can
check-in and check-out of the product data to multi-users, carry out
engineering
change
management and release control on all versions of components in a product,
build and
manipulate the product structure bill of materials (BOM) for assemblies, and
assist in
configurations management of product variants.
(An Effectivity Decision Model for Product Data Management System, Jiun-Yan
Shiau, Yuan-Ping Luh, and Chih-Chin Pan, P:1-2)
Product Portfolio Management: (New answer) (better) (management)
The problem of
product portfolio management can be found in virtually
any firm and is
indeed a complex matter.. If you side with
marketing, their
ideal would be to fit a product to each individual customer.
If you listen to
product development, they would talk about the nightmare of
having to manage
more projects simultaneously than one can even remember.
If you talk to
manufacturing, they would probably remind you of a technique
called ‘variety
reduction program’ that was quite successful a few years ago.
In response to the
implications of different organisational functions, this
survey on product
portfolio management has been based on contributions
from different
fields, including economics, marketing and operations management.
I hope that this
heterogeneity will not disrupt the thread of the
discussion, which is
structured as follows: the next section will discuss the
‘front-end’ of
product portfolio management or, in other words, the marketing
perspective.The
second section will discuss the ‘back-end’, which is concerned
with the design and
development of multiple products.The third section will
present portfolio
management tools that may help bring the two perspectives
together.
(DESIGN PROCESS
IMPROVEMENT, 2005, Chapter 17 Product portfolio Management,
Marco Cantamessa, Politecnico di Torino P:405)
3. Product and portfolio management (previous answer)
(management)
Effective portfolio management is vital to successful product innovation. Portfolio management is about making strategic choices—which markets, products, and technologies our business will invest in. It is about resource allocation—how you will spend your scarce engineering, R&D, and marketing resources. It focuses on project selection—on which new product or development projects you choose from the many opportunities you face. And it deals with balance—having the right balance between numbers of projects you do and the resources or capabilities you have available.
Portfolio management for product innovation – picking the right set of development projects – is critical to new product success. This article reports on the new product portfolio practices and performance of a large sample of firms in North America. Reasons why portfolio management is important are identified, followed by the relative popularity of the different portfolio techniques: financial methods are first, followed by business strategy methods, bubble diagrams and scoring models. Next, how the various portfolio methods fare in terms of six performance metrics is probed. Financial methods, although the most popular and rigorous, yield the worst results overall, while top performing firms rely more on non-financial approaches – strategic and scoring methods. The details of how some of these more popular methods are employed by firms to rate and rank development projects are also provided. Finally, managerial implications, including suggestions for making portfolio management more effective in industry, are outlined.
New Product Portfolio Management: Practices and Performance
Robert G. Cooper, Scott J. Edgett, Elko J. Kleinschmidt, 12 AUG 2004, DOI: 10.1111/1540-5885.1640333
Portfolio management for new product development: results of an industry practices study
Robert Cooper, Scott Edgett, Elko Kleinschmidt, 17 DEC 2002, DOI: 10.1111/1467-9310.00225
Effective portfolio management is vital to successful product innovation. Portfolio management is about making strategic choices—which markets, products, and technologies our business will invest in. It is about resource allocation—how you will spend your scarce engineering, R&D, and marketing resources. It focuses on project selection—on which new product or development projects you choose from the many opportunities you face. And it deals with balance—having the right balance between numbers of projects you do and the resources or capabilities you have available.
Portfolio management for product innovation – picking the right set of development projects – is critical to new product success. This article reports on the new product portfolio practices and performance of a large sample of firms in North America. Reasons why portfolio management is important are identified, followed by the relative popularity of the different portfolio techniques: financial methods are first, followed by business strategy methods, bubble diagrams and scoring models. Next, how the various portfolio methods fare in terms of six performance metrics is probed. Financial methods, although the most popular and rigorous, yield the worst results overall, while top performing firms rely more on non-financial approaches – strategic and scoring methods. The details of how some of these more popular methods are employed by firms to rate and rank development projects are also provided. Finally, managerial implications, including suggestions for making portfolio management more effective in industry, are outlined.
New Product Portfolio Management: Practices and Performance
Robert G. Cooper, Scott J. Edgett, Elko J. Kleinschmidt, 12 AUG 2004, DOI: 10.1111/1540-5885.1640333
Portfolio management for new product development: results of an industry practices study
Robert Cooper, Scott Edgett, Elko Kleinschmidt, 17 DEC 2002, DOI: 10.1111/1467-9310.00225
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