The 5 Stages of Product Development

Product development is the process of building a new product, from ideation all the way through to launch. It begins with a creative idea but to reach distribution, businesses must be strategic in their approach. The unpredictable nature of daily life means that the product development cycle is often challenged by external factors such as costs, economic changes, new technologies and competitor influence.

Choosing the right team, designing a product architecture that works, and managing complex supply chains can also be a cause for disruption throughout product development. To succeed in an environment that is constantly changing, engineers must make timely decisions and invest in new, future-proof technologies.

Here, we break this process down into a five-stage plan that involves taking a product from the initial concept to the final market launch.

FEASIBILITY

The product development process starts when the technology required for your product or service to succeed has been sourced correctly. However, finding and choosing the technology that’s right for your business isn’t always straight forward.

Partnering with a technology solutions provider will give your business access to a global network of suppliers. But this access comes with an abundance of choice. Businesses require a technology partner who can fully understand their objectives to help them make the right decisions. They should serve as an extension of their team to offer the best technology solutions for their applications and success during the product design process.

EG Electronics’ carefully selected partners will provide your business with the capability and expertise to source the right components or systems for your specific requirements. This will vastly reduce your time spent researching the right solution for your business.

PLANNING

A project can take a long time to get to market, and when you’re entering into the design verification and design validation stage, you soon learn the impact of the decisions that were made at the beginning of the process. Did you design the device correctly? EG Electronics customise solutions to fit the environments in which they’re in and the technical needs of a device. With our step-by-step guidance on verification and validation plans, we will help you to remain on track and feel confident in your process, especially when reaching out to potential investors and customers.

DESIGN

Connecting with stakeholders can be a lengthy process as businesses take time to develop a working relationship. Our decades of experience working with electronic solutions shows that we understand our industry.  From design, prototype to development, testing and adaptation we work in synergy with your organisation to create your best total cost ownership, fast time-to-market, and your need for longevity. By offering the right solutions for your applications, our knowledge and expertise can help you reduce design time all the while trust in the advice you receive.

APPROVAL AND CERTIFICATION

To go live with a new product, you need to certify that it works effectively before it is released to the public. EG Electronics can provide subsystem pre-approvals to help you simplify your EN certification and EMC approvals process. In addition to this, we are ISO 9001 and ISO 14001 certified, meaning that you can trust that the advice we provide is of industry standard.

Committing to industry standardisation is procedural but each country will have its own level of regulation. EG Electronics represents the Electronics business area in KAMIC Group, a privately held corporate group based in Sweden. The group consists of some 30 companies offering technical products and services in several well-defined market niches. This means, that we have several areas of expertise, divided between different companies and business units. And because of our global presence, we understand which regulation is required for each country.

PRODUCTION

From concept to delivery and beyond: our customer centric approach to product development means that the quality of our partners must be at the forefront of all decision making. It pushes us to perform better than our competitors as we listen to our customers and adapt to find the right solution.

Finding the right solution

The right product development process can help you streamline each of the above steps and achieve your project goal in a more time and cost-effective way. From components to complete computer solutions, we ensure long term access to critical products for engineering teams. We enable rapid time-to-market for new products by guiding our customers to the right products for their operational needs.

To learn more about our engineering product development solutions, click here