Agile Product Development Definition
Agile product development is the strategy of leveraging digital technologies (e.g., the Cloud) and iterative design methods to help minimize risks and respond rapidly to change throughout the new product development process. Many companies adopt cloud-native product lifecycle management (PLM) and quality management system (QMS) solutions to facilitate real-time, frequent collaboration across internal teams and external partners. This keeps everyone in on the same page and on track with meeting key deliverables. Teams also gain greater visibility and can respond quickly to design errors, part shortages, and other issues that impact the final product release.
By dividing the product development process into short iterations or sprints, cross-functional teams can evaluate different requirements and optimize the design through continuous feedback. Ultimately, companies deliver products faster and reduce costs, while providing more value to customers. Although this iterative approach is traditionally associated with software, it can also apply to other aspects of product development including hardware design.
