Over the past several decades, processes to design and build cars, airplanes, and other products have typically followed a linear, sequential path. But the inefficient flow of information has frequently led to delays in product delivery. To remedy the situation, product development groups are shifting to a more holistic digital mindset using digital business models, processes, and tools. By embracing digital like never before, product developers can become fully integrated digital businesses and, therefore, well positioned to be more competitive.
ma financial processes to extend
the inefficient flow of information throughout this process. For example, the people launching the product into the market frequently have not found out quickly enough about changes made by engineers to the product’s design. This often wreaks havoc with the process, slows product deliveries, and lowers customer satisfaction. These problems have been particularly acute in the aerospace and defense industry. Major airplane programs have been late to market by more than 3 years, costing the industry