Concurrent engineering –It is a method of designing and developing products, in which the

different stages run simultaneously, rather than consecutively. It decreases product

development time and also the time to market, leading to improved productivity and
reduced costs. It requires three processes-
1. Perceptual mapping-
 Compares customer perception available product
 Identifying gap in market
2. Reverse engineering-
 Dismantle and inspect competitor’s product
 Select features to incorporate into new product.
3. Benchmarking-
 Get the best product available.
 Base performance specifications for new product on it. (Copying the product)

Why concurrent engineering?

 Pace of market change has increased

 Companies must keep pace with changing market
 Decision made sooner rather than later
 Reduces/eliminates repetition of task
 Reduces waste and reworking of design
 Product quicker to market
 Maximises companies profit
 Company operates more efficiently