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Low-Cost Automation (popularly known as LCA) is the introduction of simple pneumatic, hydraulic, mechanical, and electrical devices into the existing production process or/and machinery, with a view to improving their productivity. These would also enable the operation of this equipment by even semi-skilled and unskilled labor, with a little training. 

This will involve the use of standardized parts and devices to mechanize or automate machines, processes, and systems. LCA is a technology that creates some degree of automation around the existing equipment, tools, methods, people, etc, using mostly standard components available in the market with a low investment so that the payback period is short. The current financial crisis faced all over the world has posed tremendous challenges to the manufacturing organizations. Even at low volumes, and large variety, they have to be competitive with minimum investment. Low-cost automation can play an important role in this situation.

Festo is a leading worldwide supplier of automation technology and the performance leader in industrial train Read more...

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Ganesha's big head inspires us to think big and think profitably; the big ears show openness to new ideas and suggestions; the narrow eyes point to the deep concentration needed to finish a task well; the long nose encourages curiosity and learning

In business and engineering, new product development (NPD) is the complete process of bringing a new product to market. A product is a set of benefits offered for exchange and can be tangible (that is, something physical you can touch) or intangible (like a service, experience, or belief). There are two parallel paths involved in the NPD process: one involves the idea generation, product design and detail engineering; the other involves market research and marketing analysis. Companies typically see new product development as the first stage in generating and commercializing new product within the overall strategic process of product life cycle management used to maintain or grow their market share.

The Eight Stages

1. Idea Generation is often called the "NPD" of the NPD process.
   • Ideas for new products can be obtained from basic research using a SWOT analysis (Strengths, Weaknesses, Opportunities & Threats). Market and consumer trends, company's R&D department, competitors, focus groups, employees, salespeople, corporate spies, trade shows, or ethnographic discovery methods (searching for user patterns and habits) may also be used to get an insight into new product lines or prod Read more...

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