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NEW PRODUCT INTRODUCTION

New Product Introduction

A new product introduction strategy is the foundation of any successful product introduction and often helps boost sales and encourage company growth down the road. PROLIM New Product Introduction (NPI) solution streamlines and automates the product introduction process enabling enterprise organizations to bring better products to market faster while maximizing profitability.

Competitive stresses, cost challenges, and increased customer expectations are driving companies to improve the way they develop and introduce products to the market. Whether you’re cultivating internally born ideas, or trying to respond to customer requirements and market demands, the new product introduction process can help. It enables all constituents to speak a common language. It automates tasks, exposes performance bottlenecks, and drives consistent execution and continuous improvement. And, it provides management visibility into the product development pipeline. Since NPI is so intertwined with other product development processes, its adoption and execution significantly influences your potential for success.

Benefits of an Enhanced Process for New Product Introduction

An effectively deployed and adopted new product introduction process enables you to properly manage product development activities in order to deliver the right products to the market at the right time, while keeping costs under control. Some of the many benefits resulting from optimizing the new product introduction process include:

  • Products Introduced On-Time leads to Higher Productivity
  • Shorten the time from a product’s concept initiation to its release to manufacturing
  • Plan and manage overall duration of the NPI process and each of its phases
  • Manage change and product lifecycle cycle solution for various deliverables
  • Standardize format and attributes for different deliverables
  • Provides visibility into program pipeline for improved collaboration and faster development time
  • Provides a central document repository for all new product designs, drawings, specifications, compliance requirements and other files
  • Includes enterprise graphical workflows to streamline and automate processes, drive collaboration and improve cycle times
  • Capture and automate company specific new product introduction process
  • Incorporate a best-practice project plan, document templates, and metrics
  • Provide project visibility to all team members to eliminate questions about pending assignments
  • Focus effort and increase R&D

To be competitive in the global marketplace, innovation-driven organizations need to deliver new products to market quickly and cost effectively. Indeed, a company’s ability to achieve these sometimes-conflicting objectives simultaneously is key to its success. To meet this challenge, global leaders make it a priority to maximize productivity at the project level.