Tool driven product development

For companies whose business involves product development, it is essential to have the right tools for smooth product development and operational efficiency. With a wide range of tools available both free and paid, it is vital to analyse and review the different tools and then choose the best suited tools for their specific needs. In this article we try to list down some of the tools that are considered essential for developing quality products within short development cycles.

  • Product requirements management tool: The product requirements management tool helps in product design. They provide the assistance to the product designer in adding features that are relevant and meet the need of the target market. These tools also help in coming up with an estimate of the material and time costs for the product development, hence are mighty useful in defining the product development cycle time and also the market cost of the product.
  • Supplier management tools: Once the product requirement analysis is completed, one can have a clear idea into the requirements and the raw materials that might be needed in case of physical products. This is a very important step when it comes to the product companies as the tool would help the procurement team to identify the right suppliers on the basis of diverse complex parameters. The supplier management tools help in supplier billing, raw material procurement, planning etc.
  • Design tools: These are by far the most commonly used tools by the product development companies and help in coming up with innovative design schemes for the products. Some of the common tools in this category are CAD, CAM etc.
  • Workflow Management tools: These tools help in framing the workflows for optimum efficiency and ensuring that there are no delays in the development cycle. These tools are very useful for instilling accuracy and establishing consistency in the processes.
  • Testing tools: These are once again some of the most commonly used tools by any product development company. There has been tremendous development in this field and there are tools on the market which when used can ensure that the products meet the accepted standards and provide high quality of services to the users.
  • Collaborative tools: These tools help in improving the collaboration between the various agents involved in the product development such as the partners, vendors, distribution channels etc.

These are but some of the tools that are useful for product development. But the list cannot be completed without emphasizing on the enterprise solutions and tools available which cater to the organization’s business processes and automate them to make them efficient and effective. These enterprise solutions are to be integrated with the above mentioned tools to gain maximum advantage.

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Radhika Chittoor

15 years of experience in presales and marketing. I have helped companies set up their sales & marketing teams.