The automotive development process

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The global automotive industry is experiencing significant changes in competition due to globalized markets, advanced technologies, and increasingly demanding customers. As automotive companies evolve, the importance of well-functioning networks becomes evident for gaining a competitive edge. Key benchmarks for these companies include higher product quality, improved efficiency, and reduced time to market. This context serves as the foundation for Daniel's research on the product development process within the automobile sector, a topic that has not been thoroughly addressed. Daniel aims to elucidate the value of engineering product development paradigms, particularly point-set-based concurrent engineering, from a holistic perspective. He identifies capabilities based on empirical studies of best practices, especially at Toyota Motor Corporation, highlighting why different product engineering systems can provide a competitive advantage. Furthermore, he applies a real option valuation model within a financial economics framework to quantify the value of concurrent engineering from a shareholder's perspective. This approach equips automotive firms with a robust tool to determine the optimal level of innovation in their product development process. Lastly, Daniel outlines five clear principles of product development, offering significant guidance for automotive executives in effectively managing the product development process