The mission of this course is to give the students a thorough understanding of the processes that go into the development of a new product. The question of what it takes to turn an idea into a product is asked and detailed project management tools are examined as they relate to new product development (NPD). As case study, the Fast-Moving Consumer Goods (FMCG) industry is examined. The intent of the course is to give the students a good understanding of the topics by providing real life examples and to always question and provide the logic behind decisions in real life scenarios. In comparison to established industries, new ways of NPD from the startup world are also examined. With manufacturing and prototyping methods more easily accessible to individuals and startups, emerging trends in NPD are discussed with examples from digital manufacturing, IoT, new habits of working, creation, and obtaining funding which lead to innovative new products. Finally, the students understand how ERP systems are used today and the impact of digitalization on the potential uses of ERP systems in manufacturing and supply chain as they relate to NPD.

Teamwork and flipped classroom methods are partially used in this course. The students work individually most of the time until the midterm. After the midterm, teams are formed, and the rest of the course work will be done in teams.

A hybrid approach of traditional and flipped classroom methods are used in this course. Flipped classroom is a method where preparation is done by the students before classroom either by watching/reading the material provided by the lecturer or by researching about the topics themselves and the class time is reserved for application, analysis and teamwork for their projects with the mentoring of the lecturer. Flipped classroom is used partially in the course. The rest of the course is done in the traditional way where the lecturer explains the topics in the classroom.

This class prioritizes practical knowledge and the students are expected to apply the NPD and project management concepts they learn to their new product ideas of their choice. Outside of class, they will research their market, talk to experts, strategize on how to bring their idea to life, and spend time on the field. The outcome will be presented by each individual for their midterm exam. Between midterm and finals, the students learn about some of the fundamental tools of entrepreneurship. They will form teams and apply these tools to their new product ideas and present the outcome during their final presentation in teams.

It is the wish of the lecturer to give the students a healthy mix of theory, real life examples and success stories, a glimpse into emerging trends in the world and hopefully inspiration for career choice.