An application of lean principles to product development

Product development is a catalyst, transforming ideas into products. This commercialization process is critical to the long-term viability of the business by fuelling revenue and earnings growth. Lean Manufacturing principles are core to Toyota's productivity and have been successfully adopted by many North American manufacturers. Toyota has also extended this methodology to its product development process. Several other methodologies, ranging from Six Sigma to Stage-Gate, exist both in manufacturing and product development. This analysis looks at applying these best practices. An understanding of the corporate and industry environments serves as the foundation for this investigation. A review of best practices in manufacturing and development provides the theoretical framework with which to undertake a specific analysis at Creo. Three product development strategies are examined based on their relevancy, implementation and impact. These include modified Stage-Gate, TPDS and a hybrid approach. From this analysis, the report identifies commonalities and makes several concluding recommendations.