Using concurrent engineering,Chrysler Corporation was able to reduce its product development cycle from 60 to 36 months.

Question

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Concurrent engineering is a product development approach that involves all departments and functions in the design and development process simultaneously, rather than sequentially. This approach enables parallel processing of tasks, reduces lead times, and improves the overall efficiency of the product development cycle. Chrysler Corporation is known for successfully implementing concurrent engineering in the 1980s, which enabled them to reduce their product development cycle from 60 to 36 months. Therefore, the statement is true.

Using Concurrent Engineering,Chrysler Corporation Was Able to Reduce Its Product