During product development, information is exchanged intensively. Various parties are involved, all from a different field, and with a specific expertise, for example policymakers, managers, actuaries, programmers, or customers. Therefore, the new generation product development must facilitate a good information exchange, which enables good and efficient communication. More and more products are developed, whereas the product life time becomes shorter. To keep track of the situation, the products must be stored centrally.
Information has to be available to everyone at any moment.
It must be possible to adjust and maintain products. Hence a requirement for the new generation product development is that products are centrally managed as valuable corporate assets. Each day the introduction of a product in the market is delayed, means a loss of customers and money. The new generation product development must minimize the period between initial design and customer. Make the introduction of a new product a company effort and not just a systems or product actuary effort.