New product development is one of the riskiest, but most critical strategies in any competitive industry (Cooper, 2001). Many companies have built competitiveness and obtained tremendous profits through new product development. Global competition in the textile and apparel industry has become more intense due, in part, to the changes in regulation of world trade. To compete in the future of textiles and apparel, firms will need to be innovative, while reducing cycle times and cutting costs. New product development methods will contribute or enhance the marketing of innovative products. The purpose of this paper is to review the nature of new product development (NPD) and explore diverse NPD processes identified by previous researchers. This paper will also introduce several examples of new product development process models and strategies of companies and products in the textile and apparel industry. This research will be of interest to academicians and industrial personnel in the textile and apparel field through a review of NPD literature.
KEYWORDS: New product development, innovation, NPD process, textiles and apparel
Read complete article: FULL ARTICLE
The authors are from NCSU College of Textiles, North Carolina State University.
To read more articles
General please visit http://articles.fibre2fashion.com
To promote your company, product and services via promotional article, follow this link: http://www.fibre2fashion.com/services/article-writing-service/content-promotion-services.asp