It's almost redundant to use the phrase "collaborative product development" today. By definition, product development, for most manufacturers, is a collaborative process necessitated by widespread globalization and virtual operating models that rely on cross-functional teams, supply chain and technology partners, customers, and other stakeholders. As the need intensifies to get better products to market faster while keeping costs in check, manufacturing companies must optimize their global design chains and manage the challenges associated with extended enterprises. That includes providing cross-organizational access to the same product information and protecting intellectual property.
Source: Managing Automation