Lean Product Development | Glossary

Definition:

A practical approach to accelerating time to market through aggressive waste elimination in planning, resource management, design control and interdisciplinary communication.

Lean Product Development (LPD) compromises of driving waste out of the product development process, improving the way projects are executed and visualizing the product development process.

By closely examining the product development process from a lean perspective, the opportunities to drive out waste and increases value become obvious.

LPD capitalizes the Lean principles to meet the challenges in the Product Development.

Lean Product Development solves the following issues:

  • Reduction of long development cycle times
  • Reducing the high costs of development
  • Reduction of production costs
  • Redevelopment cycles

 

Further Reading:

https://en.wikipedia.org/wiki/Lean_product_development

http://insights.btoes.com/resources/lean-production-and-product-development

 

Value Chain | Glossary

 

Definition

The Value Chain is the overall parameter( i.e all the included groups), in which Agility needs to be embraced, in order to bring about transformation. Both the Development and Non-Development parts have to embrace Agile and adjust to each other, for it to be sully successful.

Further Reading

  • “Lean and Agile Value Chain Management” (book), by Ehap H.Sabri
  • For more on Lean Value Chain, read here and  here.