New Product Development Processes, Factors and Strategies
New Product Development
Front-to-Back New Product Development Process
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.
New product development cycle