New Product Introduction
New product introduction (NPI) services provided by MOKO Technology is reliable and high-efficient, which helps your enterprise improve the market competitiveness.
What is the New Product Introduction?
New product introduction is a process that aims to introduce new products to the market, the process covers from the initial concept, to the prototype and the final products. The product can be some tangible things like automobiles, machines, electronic devices, and it can also be intangible like a system.
New product introduction can expand the product market by creating new a version of the product or converting the form of packaging, which is very helpful to increase sales and market share, and improve the profitability of the enterprises as well. New product introduction makes sure that the competitiveness of the product line by applying the advanced technology, and meets the requirements of the customers better.
New Product Introduction(NPI) Service at MOKO
MOKO Technology, as an expert in electronic manufacturing services, has over 10 years of experience in offering comprehensive services and solutions to meet various fabrication needs.We manufacture complex products for different industries, and develop hundreds of new products at all phases of the engineering, design and prototyping process.
MOKO is well-versed in the NPI process to provide the best solution for your products as soon as possible, making sure that our clients can bring products to the market within a short time. We have rich project management experience, professional manufacturing knowledge, and an excellent customer support system, which makes us confident that through our NPI solution, we can quickly put the new products into mass production and ensure their quality under the conditions of high efficiency and lower cost. Until now, MOKO has helped many customers launch new products successfully, and we are ready for your project now!
Our New Product Introduction Process
In this stage, we will set up a team for the NPI project, and define the role of each member. And figure out the functionality and requirements of the product. Rough ideas and deadlines would be confirmed as well.
This step means to check if the initial design or concept is feasible:
Make a workflow of the product development
Create a model according to the concept by using CAD
Evaluate the concept and marketability, and materials to confirm the best one
In the development phase, we will:
Draw sketch based on the concept
Create functional prototype
Make a bill of materials (BOM)
In this step, the prototype would be tested and analyzed to see if the modification is needed to achieve the expected result. On the other hand, the manufacturing process would also be validated to make sure that the final production plan is workable and efficient.
Fabricate the final product and perform a quality control process to guarantee the superior quality
Introduce the product to the market
In this phase, we would evaluate the whole NPI process and improve in the next run of the NPI process to meet consumers’ needs better.
New Product Introduction Considerations
New product introduction is not an easy process, there are many considerations involved to confirm the success of the NPI solution:
First, we need to take each stage of the product life cycle into consideration and make a comprehensive plan about it. So we can be aware of the potential problems or challenges that would impact the new product introduction.
Second, material purchase. Many things should be confirmed at the design stage, as any changes at the last step would cause a significant impact on expenses, especially the material that should be confirmed and purchased earlier to reduce the risk of the fluctuation of the global economy.
Third, all members involved in the NPI project should know the goal and budget of the project, and they should follow it at each step such as design, material choosing and manufacturing to ensure that the project can be carried out successfully.
Fourth, collect the data and integrate them. To introduce a product to a market successfully, we need to collect the data such as market dynamics, material costs, demand forecasting.
Last, the cooperation. The NPI process involves different departments such as the R&D dept, production dept, QC dept, and so on. And cooperation among them is very important, which makes sure that all steps can be performed and linked smoothly.
The Advantages of the New Product Introduction
Lower Development Costs
In the design phase, everything including the material, fabrication and assembly is well considered to avoid the postpone or redesign during the following stages. On the other hand, it can reduce the waste of materials or resources that are used for unworkable prototypes.
Short Turnaround Time
New product introduction helps to speed up the product development cycle and deliver products with a short time to meet customer needs, and the short turnaround time leads to a faster return on investment.
The feasible design and the strict quality control process can reduce the defects or flaws of the products, and guarantee the high quality of the product.
The new product introduction process enhances the quality and reliability of the products, making sure that the customer can be satisfied with the product.
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