New Product Development Process At Onity - 1648 Words

New Product Development Process at Onity Background Onity, one of the pioneers of electronic door lock systems formerly known as TESA Entry Systems was founded in 1941. Onity is a part of United Technologies Corp.’s (UTC, NYSE:UTX) Building Industrial Systems division. Onity has set the standards for electronic door locking systems with installations of more than 4 million throughout the world and was second to none in the Hospitality, Corporate, Education, Government and Marine markets since 1984. With the flagship products such as Advance RFID, Advance, HT24, HT28, Front Desk Systems, etc., Onity had its electronic locking systems installed on 22,000 properties in 115 countries. However, fierce competitive products launched by the rivals like Salto and Ingersoll Rand had forced Onity to dive into the market for a narrow styling locking system. The sleek designed locks from Salto in particular were eating into the luxury hotels’ market of Onity. To keep up with its number one position in the industry, Onity management decided to develop a narrow style lock. However, they failed to follow best practices in the industry, which ultimately led them to stop a very ambitious product development. Onity had the greatest industrial technological advantage in the market, yet in the chaos of a very iterative process of design and validation, Onity lost the battle. The various process involved in the New Product Development (NPD) of any mechanical product will be covered inShow MoreRelatedA Brief Note On The Uk Hotel Sector2332 Words   |  10 Pagesas Premierinn, Novotel, and the Hilton. Who in fact are the current market leaders for hotels within the UK. Their continuous success in being one of the biggest hotel chains in the UK depends on them constantly increasing and expanding the use of new information systems. 1.2 Information Systems and importance of them to Hotels. An Information system (IS) is a system made of computers and people that processes or explains information. The term is also sometimes used in more restricted senses to