No manufacturer can afford to avoid innovation. With our ever-more-connected and global economy, product innovation is a must—and it typically must be done faster than anyone feels comfortable doing. Bringing new products to market quickly is a key to survival, and conversely, being late to market can sabotage your success, no matter how good the product.
New Product Introductions
To achieve fast, successful product development and introduction, manufacturers need to collaborate, gather data, disseminate it where required, and act on insights from it. They need to capture and share lessons learned from experience and apply it to improve efficiency and reduce costs. They need to promote and manage collaboration, in order to integrate multiple teams—including suppliers and partners—into the process. And they need to capture metrics like cycle time to ensure uniformity and manage manufacturing costs.
A centralized system can capture all available product data, throughout the product lifecycle, and make it available to any participant in the new product process that needs it, whether they are part of the concept and design stage or taking the manufactured goods to market. This can help you capture value from both sides of the value proposition, reducing costs via a more efficient and streamlined process and increasing revenue by delivering the innovations customers want faster.
Find out how Razorleaf’s team of experts can help optimize your new product innovation and introduction processes.