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Title: Improving the new product development process
Author: Stockton, D. J.
ISNI:       0000 0001 3486 4446
Awarding Body: Loughborough University
Current Institution: Loughborough University
Date of Award: 1983
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A system has been developed and is being used at H. M. -Ltd. for estimating the labour and overhead costs of components manufactured by a wide variety of production processes. The system uses multiple linear regression analysis to develop estimating equations that quantitatively measure the relationship between the production time of a component and the factors that influence this time. Production times can then be converted to cost using appropriate labour and overhead cost rates. The system uses design features only for predictor variables in the estimating equations. Hence designers with little concept of manufacturing methods can use the system to cost designs as they evolve. This feature therefore provides designers with a powerful cost optimization tool. The manufacturing time data used to develop estimating equations represents current operating conditions at Herbert Morris Ltd. Hence the estimated times can be used directly as standard times for the planning and control of manufacturing. In this way manufacturing costs will be directly linked to the design features of a product. Software has been developed to allow a computer to retrieve appropriate equations and compute the production times and costs of components. This software could form the basis for a larger system that also generates producibility data for designers. A method of allowing designers to estimate the development times for individual components and assemblies has been developed. This facility enables the design process to be scheduled such that the overall new product development time could be minimized. An important element of this scheduling method is the ability to allocate resources between components to be designed on the basis of relative cost and importance to. the overall success of the project.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available
Keywords: Cost effectivenes ; New product development ; Cost optimisation