Read this article about BMO Financial Group, one of our finalists, in the category Best Achievement in Operational Excellence to deliver Digital ...
Lean Product Development focuses on using Lean to meet the need for innovative solutions, most often in a manufacturing process.
Image credit: TechTarget
Lean Product Development, or LPD, utilizes Lean principles to meet the ever-growing challenges of Product Development. Beginning with Allen Ward's study of the Toyota Production System, lean product development seeks to address the following issues in particular:
Although Lean Product Development does incorporate certain principles and guidelines of Lean Production, Lean Product Development focuses on the development of new products to suit the customer, as opposed to improving processes for existing products.
"Don't try to bring lean manufacturing upstream to product development. The application of Lean in product development and manufacturing are different. Some aspects may look similar, but they are not! Be leary of an expert with experience in lean manufacturing that claims to know product development"
- Jim Womack's advice to Harley Davidson
As Lean Product Development focuses more on innovation and the creation of new products, there are difference core principles, placed with differing priority to that of standard Lean Production. Below are these key principles, broken down into stages. To learn more about this list, click here.
First Principle: Define Value to the Customer
Third Principle: Make the Value Creating Steps Flow
Ultimately, the successful implementation of Lean Product Development should increase innovation within an organization tenfold, as well as facilitating the introduction of new products - potentially even at a 400-500% increase.