CREATING VALUE THROUGH LEAN PRODUCT DEVELOPMENT - APPLYING LEAN PRINCIPLES

This conceptual article describes how companies can create value through applying Lean principles in product development. It provides input to a generic framework of Lean Product Development as it defines an explanatory model for effective knowledge enhancement and execution of development projects. The model consists of a two by two matrix given by a division of, at one hand, product development in two value streams, the Product Value Stream and the Knowledge Value Stream, and at the other hand in two phases, the Concept phase and Implementation phase. With this as basis it is discussed how four essential Lean principles, Flow, Continuous Improvement, Standardization and Visualization, could be applied. The difference in how the principles are applied in the matrix justifies the proposed generic framework.