How Risk Management can be implemented in New Agro-Product Development (NAPD)? : A Review Naila Maulidina Lu^ayya*, Siti Asmaul Mustaniroh, Imam Santoso, Annisa^u Choirun
1Department of Agro-industrial Technology, Faculty of Agricultural Technology, Universitas Brawijaya, Malang, Indonesia
2Department of Agro-industrial Technology, Faculty of Agricultural Technology, Universitas Brawijaya, Malang, Indonesia
3Department of Agro-industrial Technology, Faculty of Agricultural Technology, Universitas Brawijaya, Malang, Indonesia
4Department of Agricultural Technology, Politeknik Negeri Jember, Indonesia
*nailamaulidina[at]student.ub.ac.id
Abstract
New product development is highly complex because it integrates technical challenges from both internal and external sources. The potential for uncertainty or failure exists at every step of the product development process. One of the important tools to minimize risks in product development is risk management in new product development. The purpose of this paper is to review some research literature on the concept, process, and factor of risk management in new agro-product development This research uses a systematic literature review analysis to analyze the concept and process of risk management in new product development. The articles were selected from the databases of Emerald, SSRN, Elsevier, Springer, MDPI and Taylor & Francis. The findings of this study demonstrate the critical role of risk management in the minimization of risks associated with new product development through the implementation of diverse strategies. The risk management process involves identifying, selecting, assessing, and mitigating risks. Risk in product development is influenced by a variety of internal and external factors. Internal factors stem from within the organization, such as its operations, employees, and technological capabilities. External factors come from outside the company, including suppliers, customers, and retailer. Many businesses, including small and medium-sized enterprises (SMEs), have adopted risk management to prevent product failures and financial losses. This paper provides a research framework for applying risk management to new agroindustrial product development.
Keywords: Agro-product- New Agri-Product Development- New Product Development- Risk- Risk Management
Topic: Agro-industrial system management and regulation
