Increasing performance and efficiency in new product development
Improving company performance by reducing costs is not easy. Many think that laying off people or going off-shore is the best and quickest way of reducing costs and raising efficiencies.
The loss of time and money from failed new product development efforts, unnecessary rework and warranty costs after market introduction can amount to a productivity loss of 30 to 50% and substantially delayed “Time to Money”.
Any effort to cut costs must also result in a shorter or at least not extended “Time to Money”, in less wastage, less rework, lower warranty costs, higher customer value delivered and higher customer satisfaction.
Any necessary improvements in productivity are generally only achievable by improving operational excellence in two areas:
- By ensuring that quality in all business and production processes are expertly controlled and managed to reduce risk, breakdowns and wastage of resources, time and opportunity, and
- By ensuring that the funds for new product development and innovation projects are predictably and consistently generated within the business.
There are proven ways of working out where and how to improve efficiencies and productivity, reduce wastage and cut costs whilst reducing “Time to Money” and maintaining your employees’ acceptance for these measures and their commitment and involvement in change.
Our tools and information will help you become a lean product development enterprise
Even though staff layoffs may sometimes be a necessary step, it is often difficult to decide who should leave.
Many businesses are unsure about how to optimally manage their valuable resources, especially in the functional area of product and service development. Our tools and training will give you methodologies for managing and keeping valuable creative resources.