ABSTRACT
The NPD process is a long series of commonly taken steps, which includes all the activities that take place from the initial idea or invention to the time a product, service, or technology are launched. It combines different disciplines in order to meet the goal of commercializing an idea, and the functions involved in NPD include strategic planning, R&D, design and engineering, portfolio management, forecasting, finance, manufacturing, marketing and sales, and supply chain management. It is a discipline used by multifunctional teams in large companies; but in small business environments, NPD is many other things, the process is less structured but more creative, and all functions are performed by a small project team.
