Colloquia

Summary

Product development is essential for a company’s growth and competitiveness, requiring effective management to drive innovation. This study explores strategies for establishing in-house product development within small companies, focusing on firms with no prior experience. A tailored product development model is proposed based on literature review of existing models. Unlike traditional stage-gate approaches, the proposed model incorporates stages with overlapping activities and dynamic feedback loops. The model emphasizes continuous improvement through iterative cycles. This paper additionally offers practical usage guidelines for real-world application of the model, bridging the gap between the theoretical model and practical implementation. Through a multiple-convergent setup, the model guides the project from initial need identification to the final product, ensuring a structured yet adaptable approach to product development. Using Livium, a Dutch manufacturer of custom made louvre systems, as a case study, the proposed model is implemented in a real world scenario to assess it’s effectiveness and highlight key challenges.