STRATEGIC PLANNING MODELING FOR NEW ENGINEERING PRODUCTDEVELOPMENT

Abstract

Developing a new engineering product is a challenging task, especially when the technological advancements are faster than ever and the technology behind the product itself is changing at a rapid rate. Therefore, the process of a new engineering product development requires a structured approach, both in the planning phase as well as development and implementation stage to ensure that the goals are met and vision of the top management of the company is realized. This research aims to develop a similar structured approach (Strategic Planning Model) for PIC Technologies; which is the manufacturing facility of Trojans, Pakistan. It is equipped with number of modern equipments such as CNC Machines, CNC Electric Discharge Machine, Conventional Machine Tools, Sheet metal fabrication etc., In addition, PIC technologies is the only ISO 9001:2008 certified investment casting facility in Pakistan, for which this facility is known all over Pakistan. The first step in the investment casting is designing & manufacturing the die for the part to be produced through this process. However, as a policy, Trojans do not manufacture die itself. Client has to provide or arrange the die for the product it desires to get manufactured through investment casting process. This policy while removing certain process hurdles also repelled many potential clients. So back in 2008, it was decided to enhance in house capabilities and self-indigenize in the die making. However, after three years, in spite of much efforts and investment this new engineering product is yet to see the light. The die and mold industry serves as a backbone for manufacturing concerns through delivering tooling for different manufacturing processes such as injection molding, die casting, forging and sheet metal forming. Also traditional dies and molds are utilized to manufacture discrete parts to "Near Net Shape" (NNS) prior to machining and grinding to assembly ready tolerances. Development of dies and molds is a new product for PIC Technologies and the vision behind this product is to not only facilitate the existing investment casting process but also provide dies and molds to other manufacturing iii Strategic Planning Modeling For New Engineering Product Development industries. Thus developing expertise in this area will not only consolidate the existing customer base but also open new markets in the die and mold industry. Existing technological capabilities of PIC technologies are sufficient to practically implement the idea of manufacturing dies & molds. In spite of this, due number of management issues duly explained in thesis, the first die is yet to be manufactured. Close analysis of the existing work environment reveals lack of any proper structure or a planning process which is to be followed for any new initiative or a product. Keeping above in view, it is imperative to revisit the existing work flow, and incorporate a strategic planning approach towards new engineering product development process of the organization. This research will lay down the basic guidelines of the model as well as implement those guidelines within the organization. This approach will allow management to take better decision with both internal and external factors presented to them. The prescribed system and procedures will establish proper checks and balances at the development and implementation phase, thus permitting the top management to better control the work flow and take right corrective and preventive steps.