International Journal of Mechanical Engineering and Technology (IJMET), ISSN 0976 – 6340(Print), ISSN 0976 – 6359(Online), Volume 6, Issue 1, January (2015), pp. 47-55 © IAEME 47 A COMPARATIVE STUDY OF APQP AND CONTEMPORARY PRODUCT DESIGN AND DEVELOPMENT STRATEGIES Mr. A.P.SHROTRI 1 , Mr. G.S.JOSHI 2 , Mr. A.R.DANDEKAR 3 , Mr. S.A.KORE 4 1 ASSOCIATE PROFESSOR (DEPARTMENT OF MECHANICCAL ENGINEERING P.V.P.I.T.-BUDHGAON, MAHARASHTRA, INDIA) 2 ASSOCIATE PROFESSOR (D.K.T.E. SOCIETY’S TEXTILE AND ENGINEERING INSTITUTE, ICHALKARANJI, MAHARASHTRA, INDIA) 3 M.E.STUDENT (D.K.T.E. SOCIETY’S TEXTILE AND ENGINEERING INSTITUTE, ICHALKARANJI, MAHARASHTRA, INDIA) 4 ASSOCIATE PROFESSOR, (DEPARTMENT OF MECHANICAL ENGINEERING P.V.P.I.T.-BUDHGAON, MAHARASHTRA, INDIA) ABSTRACT New product development is a very challenging task in today’s competitive business world. Due to the different demographic group of customers and their varying demands ,it’s not an easy task for an organization to develop a new product by considering the customer’s needs .Due to the competitive environment in market; ‘Customer Satisfaction’ becomes the major responsible factor for the sustainability of the product throughout its entire life cycle. Hence now the organizations are defining new techniques, new strategies for product development, from the point of view of ‘Customer Satisfaction’. Other major factors that decide the sustainability of the product are ‘Cost’ and ‘Quality’. The emerging trend is to provide better quality product in affordable cost from organizational survival point of view.’ Hence to meet the demand of a changing time, various organizations as well as research scholars have been busy in the development of new tools, techniques for the product development process. Hence the traditional product development cycle is changing rapidly with profound changes. This paper will discuss the various traditional processes of product development as well as emerging trends in the field of New Product Development. Keywords: Apqp, Lean Product Development, New Product Development, Qfd, Six Sigma, Value Engineering. 1) NEW PRODUCT DEVELOPMENT New product development is challenging task for any organization. While developing any new product organizations has to think about various factors. The significant factors to be considered from product development point of view are shown in figure. It needs effort and involvement of experts from various fields from marketing up to legal section of organization. INTERNATIONAL JOURNAL OF MECHANICAL ENGINEERING AND TECHNOLOGY (IJMET) ISSN 0976 – 6340 (Print) ISSN 0976 – 6359 (Online) Volume 6, Issue 1, January (2015), pp. 47-55 © IAEME: www.iaeme.com/IJMET.asp Journal Impact Factor (2014): 7.5377 (Calculated by GISI) www.jifactor.com IJMET © I A E M E