Influence of Various Factors on Lifecycle Cost Reduction in the NPD
This literature review is about reducing cost at the new product development (NPD) phase for the entire life cycle of a product; this is a three-way gap in the existing literatures about lifecycle-cost, target costing, and new product development performance. This paper will try to answer the question about how to reduce cost for the whole lifecycle at the NPD stage. I will start by a list of possible decisions that could influence the NPD outcome, and deduct the corresponding cost effect. Besides that, I will combine it with the lifecycle perspective and categorize the cost savings to each period of lifecycle cost. Finally, a few suggestions will be made about further variables that could influence the performance, accompanied with suggestions to verify them.
Keywords: New Product Development, Target costing, Lifecycle-cost, Cost reduction