The ability to design and bring new products to market is essential for a company to remain competitive in the short and long term. It is a driver of business performance and enables a company to remain price competitive and improve quality.
Influences of new products development
The decisions made at an early stage of product design have an impact on all company functions, from procurement to production and distribution. In addition, digital technology offers the opportunity to redesign processes and improve efficiency.
New products transformation
To address these challenges, the company must redesign its organization, develop its skills and optimize ways of working, particularly by taking advantage of digital technology to improve performance.
There are four essential points to consider:
- R&D and engineering should increasingly integrate their suppliers and leverage new technologies (technical data management)
- New product introduction processes should be challenged to reduce cycle times as much as possible from design to market
- Innovation portfolio management to be reviewed to take advantage of potential synergies
- Design to cost must be used as a competitive lever by challenging the functions of the product (or service) to remove all resources that do not contribute directly to it
Helping with new products challenges
Our team of new products consultants dig deep to identify the root of complex problems and focus on delivering tangible results for clients. The menu bar on this page provides more detail on a selection of the new products challenges we regularly work on.
We apply a combination of technical expertise, operational experience, business knowledge and common sense to help our clients solve new products development issues and deliver lasting results. Our positive, flexible and personal approach, with challenge where needed, ensures buy-in at all levels of our clients’ businesses and a positive outcome. Learn more about us here.