Refers to a newly introduced way of doing something, often in technical, business, or organizational contexts.
This factory introduced a new production line system.
A new voting system is being used on a trial basis.
新手法 is more about a new technique or procedure, often in arts, crafts, or specialized skills, whereas 新方式 is broader and can apply to systems and methods.
Compound of 新 (new) and 方式 (method, system). The exact historical derivation is straightforward; the word is a modern coinage.