Effective Product Development Framework to Examine Enterprise Organizational Learning

Abstract

Intelligent Product Development of Industry 4.0, systematic and thorough study in Chinese circumstances is uncommon. It is a new idea that requires study progress for precise definitions and measures. This article is conceptual research that aims to analyze and prioritize essential elements for smart product developments as a research model connected to industry 4.0 in the Indian environment. An effective product development framework (EPDF) is proposed in this article that develops a decision-making model based on the consumer and risk assessment model. Technological advances, project management, collaborative development, lean processes and environmentalism are key elements mentioned. For the arrival of the Decision Structure, specific recommendations have been taken. The Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) technique has been used to understand priority variables considered by individuals and organizations. This paper contributes to stronger 4.0 SPD, followed by agile and sustainable development in the Chinese economy. Regarding its contributions, this research's results can help users make real-time judgments by making optimal use of resources, using highly personalized goods in a shorter lead time. Decision-makers can utilize the suggested decision-making framework, gain a thorough grasp of the conception of current policy in the light of Industry 4.0 and its associated smart products deployment aspects, specifically in the Chinese scenario.