Product Management and Knowledge Management

On a global basis, product managers are recognizing the importance of knowledge as a means of gaining or sustaining product success on market. Knowledge management becomes an essential process in product management. A product management that joins all needed market, economic and technical skills on strategic and operative level can offer an effective and proactive approach to handling or avoiding such critical situations with the use of appropriately integration within knowledge management. However, most organizations do not understand what knowledge should and can be managed. Since knowledge is the most basic of all competencies, its localization, acquisition and development, transfer, codification and application should be a critical success factor for attainment of effective product management. Little research is focused on studying the product success factors within knowledge activities. This paper is mainly focused on knowledge issues in product management. In the article the knowledge management and product management concepts are described. This study focuses on the knowledge in product management; knowledge in product management is identified and classified based on new product introduction (NPI) projects. Furthermore, how to improve the knowledge management process in product management is presented.