This image is a flowchart that outlines the various stages of the product development process, from initial concept to final product release and distribution. It breaks down the journey into several key stages:
1. Concept & Feasibility: This initial stage is about exploring the product idea, evaluating its market potential, and testing feasibility through prototypes, such as hardware kits or 3D prints. It's focused on validating the market need with a small volume of less than 10 pieces.
2. Design & Engineering: In this phase, the product design is fully customized and further developed. Prototypes are made with more refined processes such as 3D printing or CNC, moving through Engineering Validation Test (EVT), Design Validation Test (DVT), and Production Validation Test (PVT) stages to ensure the product meets design and functional requirements before mass production.
3. Manufacturing: This stage involves setting up the tooling and obtaining the necessary certifications before entering full-scale production (PVT) and market release (MP). It represents the shift from non-recurring engineering (NRE) costs to the price per unit for manufacturing, emphasizing the scalability of production.
4. Shipping & Product V1: After manufacturing, the product goes through shipping, logistics, and fulfillment processes. It also may includes planning for the first version of the product to be delivered to customers.
The flowchart includes feedback loops, indicating that validation is an ongoing process throughout development and manufacturing. It also highlights the importance of funding and investment at various stages, suggesting points where crowdfunding or investor engagement might be necessary. Additionally, it points out when to seek early distribution and investment to align product development with business strategy.
Each stage has associated inputs and outputs, such as detailed product requirements (PRD), statements of work (SOW), and quality standards, which are critical for ensuring that each phase of development and manufacturing is completed to the required standards.