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Many companies may treat product development as if it is similar to manufacturing, however the two are profoundly different. Product development is the whole process of bringing a new product to market whereas manufacturing is solely the production aspect. Product development is not only essential for business success, but also contributes directly to a company’s growth.
When you look up the definition of lean manufacturing, you’ll get a lot of results, but in summary the focus is on minimizing waste in order to maximize productivity. Now, more than ever, companies are in dire need to get the most bang out of their buck and run as efficiently as possible.