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Product development often overlaps much with the engineering design process, particularly if the new product being developed involves application of math and/or science. Every new product will pass through a series of stages/phases, including ideation among other aspects of design, as well as manufacturing and market introduction. In highly ...
New car models have major changes in a number of areas which include manufacturing and product changes when they are released creating a platform for the car company. A new microprocessor with changes in speed, size, and capabilities, while having a new process to create them, adds a new platform for the company.
Platform-based design is a design approach emphasizing systematic reuse, for developing complex products based upon platforms and compatible hardware and software virtual component, intended to reduce development risks, costs and time to market.
Product-family engineering is a relatively new approach to the creation of new products. It focuses on the process of engineering new products in such a way that it is possible to reuse product components and apply variability with decreased costs and time. Product-family engineering is all about reusing components and structures as much as ...
Fintech company AppTech Payments Corp (NASDAQ: APCX) launched its new product platform, Commerce, at Money20/20 USA, happening through October 26 at The Venetian in Las Vegas. This first-to-market ...
Physical platforms in other industries refer to product family or product portfolio platforms intended to reduce manufacturing and development costs for new products. In this case a platform is a common architecture, collection of assets, component designs, subsystems, or other elements shared by several products.
Product innovation is the creation and subsequent introduction of a good or service that is either new, or an improved version of previous goods or services. This is broader than the normally accepted definition of innovation that includes the invention of new products which, in this context, are still considered innovative.
The goal is for the contributors to extend the platform product's functionality while increasing the overall value of the product for everyone involved. Readily available software frameworks such as a software development kit (SDK), or an application programming interface (API) are common examples of product platforms.