New Product Development (NPD) process for Product Managers - Process improvement at Rotarex

Abstract

This research examines the New Product Development (NPD) project request process at Rotarex to foster better stakeholder cooperation, improve customer satisfaction, and streamline the company workflow. The study highlights the critical role of continuous improvement and innovation in product management to ensure long-term success in a rapidly changing market. A well-defined NPD process is essential for successful product launches, driving revenue growth, and enabling companies to adapt to ever-changing market conditions. The study utilizes a combination of theoretical frameworks and practical research methods, including case studies and semi-structured interviews, to provide valuable insights into the current situation at Rotarex and offer suggestions for future improvements. The application of tools such as the Value Proposition Canvas, Business Model Canvas, and SWOT analysis allows for a deeper understanding of the business model, its strengths and weaknesses, and opportunities for innovation. Future state suggestions include implementing webinars, refining the process definition, and enhancing communication channels. By addressing these areas, Rotarex can streamline the NPD initiation phase, foster better communication among team members, and maintain its competitive edge in the fire protection industry. The insights and recommendations presented aim to contribute to the ongoing development and refinement of Rotarex's product management practices, supporting sustainable growth and value creation for the company and its stakeholders.