The launching of a products into the market is challenging and involves various tasks to do this, some involve the development, prototyping and manufacturing of the product which can then be introduced into a market place. The NIP process form the ideas, portfolio management and customer requirement to an end product.
The development and introduction of products to market is being forced to change for the better because of the demand on companies, such as customer anticipations, cost challenges and competitive pressures. The new product introduction is set to help with the process of getting the idea to market and it can do this for new ideas or help products matching customer requirements more accurately according to market demand. (While methodologies such as PACE and, 2006)
NIP does many things when it is implemented properly it is used to visualize the product pipeline development for management uses. This enables many things such as automating certain tasks or to increase efficiency by anticipating and removing hold-ups. The NIP also helps with execution helping to have consensual improvement and execution. NIP process is interwoven with in many process so it plays an enormous part in the success of a product.
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