Information in Lean Product Development: Assessment of Value and Waste

Abstract

The value stream in product development (PD) is information flow. Therefore, the value of information needs to be increased, while waste of information needs to be eliminated in lean product development (LPD). Although the concepts value and waste in PD have both been the object of research activities, the dependency between them has been only addressed by a few authors. Therefore, this paper aims to examine the understanding of value and waste of information and their dependency in industrial practice. A web-based survey has been conducted in industry, which resulted in insight in industrial practice regarding definitions of value and waste, approaches to manage and assess value and waste, as well as companies’ reasons for and challenges in the implementation of LPD. Finally, the need for further research from an industrial perspective was revealed.