Abstract: Concurrent Engineering (CE), as firms compete on the international market, has become increasingly crucial. The main characteristics for a successful firm are reduced time in product creation, improved product quality, cheap production cost and client requirements. Many firms employ a systematic method, i.e. Competitive engineering, for the manufacture of great products. The basic concepts and techniques of CE are used to ensure a smooth and efficient product development process, starting from the market research, by suggesting certain adjustments.

Keywords: Concurrent Engineering, Product Development Process, Product Quality, Production Cost, Production Time.

| DOI: 10.17148/IARJSET.2021.8693