R&D

18.07.2013 07:20

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R&D

1) Research and development. The system by which firms arrive at new products - ie by researching the market, and other competing products (and services) and developing new products.

This may range, for example, from simple products such as stationery items to complex engineering, medical and pharmaceutical products.

Source: David Lowe. The Dictionary of Transport and Logistics. Kogan Page, 2002. – P.196 (288 p.)


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