Holistic Approach to New Product Term Paper

Over the course of his essay, Tracey attempts to demonstrate that his research and outside empirical support justifies his desire to include more parties early in new product development. Use all available data when deciding to embark upon a new product, he suggests, rather than later on, after the decision to develop the product has been made. The participation of all involved members, he believes, can have a positive and demonstrated impact upon a new product's manufacturing efficiency, thus increasing profits from the get-go, and mitigating some of the inevitable losses that occur early on in production.

Tracey believes that a new product's agility and receptivity to market forces can be enhanced with the additional input. Also, by improving delivery service through involving suppliers and distributors, one can also cut costs. Lastly, by integrating all of these members in the developing product's supply chain, overall organizational performance in development is enhanced and facilitated.Tracey believes there is what he calls ample room to increase the participation of all such elements at many firms. However, he mitigates the frequent turf wars that can occur by involving as multifaceted a supply chain as he proposes. Although things work well holistically, when all parties are truly and willingly 'on board' with the new concept, often individuals may have competing interests, particularly distributors, suppliers, and customers who deal with many other organizations.

Tracey's article thus does demonstrate the difficulty in synthesizing ideal, theoretical performance with practices. In a relatively well-integrated industry, with few conflicts between competing methods, his advice should be taken to heart. However, whether his message is true for all industries remains in doubt.

Works Cited

Tracey, M. (2004) "A Holistic Approach to New Product Development: New Insights." Journal of Supply Chain Management. Vol. 40. No.….....