University of Bucharest
In today's world, manufacturing firms are under great pressure to shorten the time to produce new products after they have been accepted by the firm's top managers. New product development times must be compressed if manufacturing firms are going to be able to compete in world markets. A means to shorten new product development that has become more prevalent is concurrent engineering. It is not a new concept, but has had to be resurrected in the modern era. When used properly, concurrent engineering can enhance a company's reputation and profitability, but when misused, it can cause rework and increased costs.