A preliminary study on the current status of New Product Development in Singapore

Abstract

New Product Development (NPD) is important to sustain the competitiveness of a company in facing the strong market competition. However, past studies on NPD in Singapore in year 2003 and 2004 revealed that only minority of the companies was engaged in NPD. To support the effort of moving Singapore to be a design hub that is internationally recognized, this work presents a preliminary study of the current status of NPD. A better insight into the status of NPD will be useful for the relevant institutions and companies in taking appropriate action to improve and encourage more NPD activities. By using a sample of 114 companies that responded to a survey conducted, this paper examines NPD activities from different aspects. Comparisons with past studies are made to provide a view on the changes in over the years. The results show that only minority of the companies are engaging in NPD. Nevertheless, a comparison with past studies suggests an increase in the level of sophistication of NPD involved. © 2008 IEEE.