Evaluating new product development performance by fuzzy linguistic computing

A 2-tuple fuzzy linguistic computing approach to deal with heterogeneous information and information loss problems during the processes of subjective evaluation integration manipulates the heterogeneous integration processes and avoids the information loss effectively.

Abstract

New product development (NPD) is indeed the cornerstone for companies to maintain and enhance the competitive edge. However, developing new products is a complex and risky decision-making process. It involves a search of the environment for opportunities, the generation of project options, and the evaluation by different experts of multiple attributes, both qualitative and quantitative. To perceive and to measure effectively the capability of NPD are real challenging tasks for business managers. This paper presents a 2-tuple fuzzy linguistic computing approach to deal with heterogeneous information and information loss problems during the processes of subjective evaluation integration. The proposed method which is based on the group decision-making scenario to assist business managers to measure the performance of NPD manipulates the heterogeneous integration processes and avoids the information loss effectively. Finally, its feasibility is demonstrated by the result of NPD performance evaluation for a high-technology company in Taiwan.