| Most organizations
have embraced "Speed-to-Market" as a key
to excellence in new product development. To gain
true competitive advantage, two complementary factors
should be added to the push for speed throughout the
new product development process. The first is "Strategic
Impact." This includes such measures as increased
revenue, greater market share, profit gain, and
improved customer satisfaction. If a new product
development output provides little strategic impact,
the fact that it accomplished rapidly may be inconsequential.
The second factor is "Resource-Use Efficiency."
This includes such measures as man-days-to-complete
and incremental cost of development. It is about
using your resources as best you can, for the
both speed and strategic impact. Competitiveness
requires organizational efficiency. The bottom
line is that the correct emphasis on speed, strategic
impact, and resource-use efficiency is needed
in order to advance the organization.
Implementation initiatives that drive strategic
impact and resource use efficiency, however, can be at odds
with the forces that push speed. Often, speed
or time-to-market initiatives are well entrenched
in organizations. All organizations desire an
NPD process that delivers new products with greater
strategic impact, using far less resources, and
doing it all faster than ever. But wanting it
and establishing the best new product development
process are entirely different.
World-class organizations embrace strategic
impact, resource-use efficiency, and speed-to-market…
concurrently. To do this, though, they must deploy
and streamline six complementary NPD processes.
New Product Development
Process Components
- Product Line Planning (and Technology and
Market Roadmapping)
- New Concept Generation
- Concept Feasibility and Assessment (Market
& Technical)
- Stage-Gate Development
- Product Management (Lifecycle and Retirement)
- Portfolio and Pipeline Management
Establishing or implementing this full, front-end to
back-end, new product development process architecture
in a timely manner is critical to driving the
productivity of innovation investments.
As one Adept Group client said, "A front-end
to back-end NPD Process is the goose that lays
the golden eggs of innovation."
If your organization seeks meaningful and strategic
gains from a new product development process,
please contact us. We would be glad to describe
the nuances of these processes in detail and discuss how your organization
can benefit from them quickly.
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