New Product Development is essential to remain compatitive in those markets subject to high level of competition within its market players.
Additionally, the development of new products allows an strategic positioning in the market and be perceived by the consumers as an innovative company.
Both industries and service providers try to innovate constantly, to satisfy the needs of an increasingly and demanding consumer.
Every brand tries to reach higher market share, and to achieve this it is needed a research previous to the development of products and services, with higher levels of safety and attractiveness.
Operations Management has a key role in the control of the company performance, as it is responsible for the areas of production, logistics and process improvement, which are closely related with fulfillment of different corporate objectives.
It facilitates companies to know better their internal and external elements:
Internal elements: operative procedures of the organization, intellectual capital (conformed by the experiences and skills developed within the company along its life) and the mean employee turnover.
External elements: financial and market strategies which are being implemented by the competitors.
Identification of these elements will allow to recognize the operation environment and the strategies needed to address quickly and efficiently the tactics and strategies in a changing environment.