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A model for new product introduction under resource constraints and product interdependence

Author

Listed:
  • Binay Dash
  • T.T. Narendran
  • M.S. Gajanand

Abstract

Firms face the challenge of timing product entry decisions. Usually, firms will have a set of product ideas on the bench and a constrained amount of product development resources. Product development happens in multiple stages. Deciding on which products should be processed through the product development stages in a resource constrained environment to help the firm achieve maximum revenue/profit is a challenging problem. The complexity gets further increased if products are inter-related/sequential in terms of resource needs with respect to attributes. This paper presents a mixed integer linear programme (MILP) model which can help an organisation to select on products it wants to launch and feasible launch timings considering multi-stage product development cycle in a resource constrained environment. This paper further proposes an enhancement to the MILP and a branch-n-bound (B%B) algorithm which will help the firm figure out optimum strategies if products are inter-related.

Suggested Citation

  • Binay Dash & T.T. Narendran & M.S. Gajanand, 2016. "A model for new product introduction under resource constraints and product interdependence," International Journal of Operational Research, Inderscience Enterprises Ltd, vol. 26(4), pages 473-508.
    • Handle: RePEc:ids:ijores:v:26:y:2016:i:4:p:473-508
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