Competitive pressures, cost challenges and increased customer expectations are driving companies to implement / improve their New Product Introduction (NPI) processes. The goal is to execute cross-functional, business-focused NPI that brings new products to market more effectively (on time, budget & spec.).
Our team of True Reckoning Associates is well versed in guiding product development teams in the use of best practice and benchmark-based project plans, standard documentation templates, team structure, roles, gate review deliverables, and more. We combine our practical experience together with proven methodologies that enable all NPI stakeholders to speak a common language. We’ll help automate and streamline the process, expose performance bottlenecks, drive consistent execution and continuous improvement, and provide management visibility into the product development pipeline.
We’ll help you with a structured process for NPI that integrates the activities in all departments; not just design, but manufacturing, purchasing, sales and marketing and others as well. As shown below (click on the image to enlarge) we break down the NPI process into defined stages, with gateways in between.
The idea is to provide a common process for all new product programs, with quality control checkpoints to ensure targets are still likely to be met. Each gate has a set of defined deliverables and if a project is not meeting them, consideration should be given to investing the money elsewhere. This provides a way of weeding out potentially poor performers before all the investment has been spent and so increasing the percentage of successful projects.
True Reckoning can help you implement a new NPI process or to tune-up your existing one. Contact us to discuss your requirements.