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Product Development
Profiting from consumer and industrial innovation
 Most companies are developing new products using the same approaches that brought them initial success. Yet to succeed in a competitive global market requires a new mindset. If product groups don’t think about new materials, new processes, and new markets, they will be left behind as technical innovation and manufacturing changes transform the consumer and industrial product landscape.
We can help you face and answer difficult questions when analyzing your product development process. We help clients achieve growth, increase efficiency and productivity, gain market share, and meet their corporate goals. Together we can identify how strategy, technology, process, or sourcing might help you innovate new concepts, adapt existing models, grow, and beat the competition.
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A large global manufacturer was suffering for its long product development time and lack of innovation. The average time from idea to market was 18 months to 2 years, but with distributors hammering down margins quickly, the price-point advantage of new products was short-lived.
After a careful review of the existing product development process, we partnered with research groups at major universities, hired the right people for the internal group, cleared roadblocks within the company, and got management buy-in for new approaches and processes.
New product development time was reduced to 6 months idea to market. Previously, new product had accounted for 3 – 4% of overall operating margin, but with a faster and smarter product development process, new products contributed upwards of 30% of the company’s operating margin. Additionally, the company was increasingly seen as an innovator by retailers, resulting in better placement of its products and more favorable terms.
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