Beating the competition at new product development and introduction (NPDI) is critical to a company’s success and profitability.
Beating the competition at new product development and introduction (NPDI) is critical to a company’s success and profitability. It’s also a major challenge loaded with obstacles, targets, and tradeoffs. Common best practices, like gated processes and cross-departmental teams, are designed to help. But are those too commonplace to provide a competitive advantage? What really drives better market performance?
We looked for answers in over 150 companies. After analyzing processes, organization and enabling technology, we came up with a 16-page summary of what sets Top Performers apart for higher revenue growth, margin expansion, and portfolio innovation.
Here are what we found Top Performers do differently:
- Compete on time to market
- Compete on innovation at multiple levels
- Set the team up for success
- Target “market excellence” to complement “product excellence”
- Adhere to a product development process
- Take a holistic view of NPDI
- Enable their Innovators
About the Author:
Jim Brown is the President of Tech-Clarity, an independent research and consulting firm that specializes in analyzing the business value of software technology and services. He has over 20 years of experience with roles in management consulting, the software industry and research. His industry experience has gained him first hand knowledge of software for manufacturing industries, including PLM, ERP, quality management, service lifecycle management and supply chain management.
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