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Time to Market Analysis: A Tool for Assessing Cost/Benefits of Accelerating Product Improvement Programs
Zafar U Khan, Eastern Michigan University
Ernie Mitchell, Masco Corporation
ABSTRACT. To cope with an increasingly competitive business environment, management practice has changed to incorporate innovative concepts, tools and techniques. Some of these practices dubbed as Advanced Cost Management Systems include: Activity-Based Costing, Activity-Based Management, Just-in-Time, Business Process Re-engineering, etc. This paper focuses on another strategic concept called Time to Market. Global competition and product proliferation has significantly reduced product life cycles. Management realizes that significant strategic and financial benefits can accrue by early introduction of products in the market. This has put pressure on product development and R & D managers to accelerate the process and bring products to market early. A generic spreadsheet tool is presented that would allow R & D managers to assess the costs and benefits (risk/return trade off) of accelerating the product development. Four diverse applications are also discussed.
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