Product Development Anxiety: A Contingency Planning Model for Innovative Production Companies

Mihai Dragomir (), Aurel Mihail Țîțu (), Ștefan Bodi, Tiberiu Oșanu and Alexandru Radu
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Mihai Dragomir: Design Engineering and Robotics Department, Faculty of Industrial Engineering, Robotics and Production Management, Technical University of Cluj-Napoca, 400641 Cluj-Napoca, Romania
Aurel Mihail Țîțu: Industrial Engineering and Management Department, Faculty of Engineering, Lucian Blaga University of Sibiu, 550024 Sibiu, Romania
Ștefan Bodi: Design Engineering and Robotics Department, Faculty of Industrial Engineering, Robotics and Production Management, Technical University of Cluj-Napoca, 400641 Cluj-Napoca, Romania
Tiberiu Oșanu: Design Engineering and Robotics Department, Faculty of Industrial Engineering, Robotics and Production Management, Technical University of Cluj-Napoca, 400641 Cluj-Napoca, Romania
Alexandru Radu: Design Engineering and Robotics Department, Faculty of Industrial Engineering, Robotics and Production Management, Technical University of Cluj-Napoca, 400641 Cluj-Napoca, Romania

Sustainability, 2024, vol. 16, issue 14, 1-16

Abstract: This paper investigates the possible failure modes of the product development process in production companies that are active in the B2C markets with a focus on household products. Since these cases require short lead times and are difficult to differentiate, in many instances the result will not be the desired one and could affect profitability for a season or for good. A model of these possibilities is created and an approach to plan contingencies for their solutions is proposed in the article. The main guideline is to switch from failure probability determination to accepting failure as inevitable and using digital solutions to reinforce the development process to offset its impact. For this goal, an Industry 5.0 Abatement Factor (abbreviated IFAF) is introduced in the contingency planning approach, which factors in the evaluation of the low cost of digital instruments and the proper mix of Technology, Humans, and AI (abbreviated THAI). The new working procedure based on these concepts and their interlinkages is discussed based on specific examples.

Keywords: new product development; contingency planning; Industry 5.0; artificial intelligence (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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