Enhancing New Product Development Effectiveness With Internet of Things Origin Real Time Data

Yerpude, Samir; Singhal, Tarun Kumar

doi:10.4018/jcit.2018070102

Cited by 9 publications

(9 citation statements)

References 37 publications

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“…Continuous feedback assists in maintaining the best fit between the product offered and the customer expectations (Pradelli et al , 2008). Real-time data further allow the managers working for NPD to ensure en route course corrections, reducing the NPD cycle time while delivering the expected quality (Yerpude and Singhal, 2018). The product development phase derives significant benefits with the real-time data emerging from the IoT implementation.…”

Section: Discussionmentioning

confidence: 99%

Digitally driven new product development: an involved contemporary innovation case

Yerpude

Rautela

2021

IJPPM

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PurposeThe purpose of this paper is to study the impact of real-time data emerging from implementation of the Internet of Things (IoT) and netnography on the efficiency of the new product development (NPD).Design/methodology/approachCustomer-oriented organizations are the ones that survive in the market with a flow of new products to the market. Expectations like reduced timelines with quality focus provoke innovations. Customer inputs become the soul for a successful product wherein it becomes important to keep a constant stream of information flow back from the market. Literature review states that real-time data gathering with the implementation of IoT ensures the same. Along with real-time data, researchers have envisaged the need to identify the customer persona before incorporating customer opinion and sentiments vide netnography.FindingsThe organization can leverage the collaboration of IoT origin real-time data and sentiment analysis to effectively manage the NPD. Real-time customer data coupled with customer opinions and sentiments prove to be a game changer in the NPD process.Originality/valueThe originalities of this study are impact of IoT origin real-time data coupled with sentiment analysis on the NPD process. While impact of IoT origin data is reported in isolation similar to sentiment analysis, influence of collaboration of real-time data with sentiment analysis on NPD process is reported in this study.

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Section: Discussionmentioning

confidence: 99%

Digitally driven new product development: an involved contemporary innovation case

Yerpude

Rautela

2021

IJPPM

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“…The data collected in real-time helps communication between different departments of the company and stakeholders (e.g. marketing, R&D, consumer), and benefits the product development process in organizations (Yerpude & Singhal, 2018, 2019). This technology can provide market information “without the usual costs associated with customer surveys and focus groups” (Taylor et al ., 2020, p. 153).…”

Section: Theoretical Backgroundmentioning

confidence: 99%

“…IoT facilitates the creation of products aligned to consumer demands and the cost reduction in the NPD processes (Yerpude & Singhal, 2019). IoT enables the collection and analysis of data in realtime, which allows the optimization and control of the NPD processes, making them more effective (Yerpude & Singhal, 2018). Cavalcante and Fettermann (2019) state that most academic papers on IoT focus on technical aspects of the technology, and few studies address the management of processes related to the development of new products.…”

Section: Introductionmentioning

confidence: 99%

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Impacts of IoT adoption on NPD processes: optimization and control

Reis

Gomes

Nascimento

2022

REGE

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PurposeThe Internet of Things (IoT) real-time data collection can help to more efficiently optimize and control companies' internal processes. Prior research analyzed IoT benefits and potential applications. Nevertheless, there is little empirical evidence and theoretical understanding of how IoT impacts new product development (NPD). This article aims at narrowing this gap.Design/methodology/approachIn total, 54 case studies were selected from an IoT database – IoT ONE. IoT ONE has a section on NPD. NPD was divided into three phases: discovery, development and commercialization. The adopted IoT technology maturity level was also analyzed. A content analysis was carried out to identify the impacts of IoT in NPD.FindingsThis study’s findings capture the emerging patterns of IoT adoption and its impact on NPD. Of the total, 33 IoT adoption cases in the sample were in the machinery and equipment sector. Adopted technologies were at least two years old in 85% of the sample. Only 15% adopted cutting edge technologies (less than 2 years old). Key actors (e.g. vendors) facilitate IoT adoption. By a small margin, the larger impacts of IoT were in the commercialization phase, where it was primarily applied to improve and optimize production processes, to better execute and synchronize new products launching, and to increase the factories' productive capacity. In the discovery phase, IoT was mainly used to identify new opportunities in the market and to collect customer data, to generate a better customer experience. In the development phase, IoT allows greater integration across departments, increasing internal collaboration and allowing more flexible NPD.Originality/valueMany articles studied the impact of information technologies in NPD. Few address the impact of IoT in NPD. IT tells about the impact of better communications with relevant people. IoT tells about machine acquired information and knowledge. This is new, much broader and deals with quite different impacts on NPD.

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“…New products are also sometimes referred to as the “lifeblood” and “engines” for the growth of any firm (Badrinarayanan and Arnett, 2008). New products are vital for the growth and success of any firm but involve risk of failure (Seyyedamiri and Tajrobehkar, 2019; Yerpude and Singhal, 2018; Cooper and Kleinschmidt, 1986). Encouraging the involvement of various stakeholders via open innovation can lead to minimization of the risk of product failure.…”

Section: Introductionmentioning

confidence: 99%

Influence of customer participation in new product development: the moderating role of social media

Rautela

Sharma

Virani

2020

IJPPM

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PurposeThe business environment is changing and so are the rules of doing business. Constant innovation is the key to win in this dynamic marketplace, so that the new ideas get converted into new marketable products quickly with the least possible mistake. One way to inculcate innovation is by the participation of customers in the new product development (NPD) process. Platforms like social media has provided an opportunity for firms to communicate, co-create and collaborate with customers. The present study aims to understand the customers' participation in three phases, namely idea generation, development and commercialization of the NPD process for its effectiveness.Design/methodology/approachWith the help of review of existing literature, a theoretical model is proposed. This model is then empirically evaluated with data of 213 respondents using structural equation modelling (SEM). The respondents are majorly young social media users in India.FindingsThe results highlight that customer involvement is important in idea generation and commercialization phase of NPD process for its effectiveness. Also, the effectiveness of NPD process affects the financial performance of the firm. The use of social media is considered for its mediating role in NPD process effectiveness during the three phases. The results show that it has an effective role to play during the idea generation phase.Originality/valueConsumers’ perspective concerning usage of social media for their participation in NPD is an unexplored area in general and in the Indian context in particular. To fill this research gap the present study is carried out.

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Enhancing New Product Development Effectiveness With Internet of Things Origin Real Time Data

Cited by 9 publications

References 37 publications

Digitally driven new product development: an involved contemporary innovation case

Digitally driven new product development: an involved contemporary innovation case

Impacts of IoT adoption on NPD processes: optimization and control

Influence of customer participation in new product development: the moderating role of social media

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