Are your products taking to long to develop and adversely affecting your revenue stream ? Time to Market is absolutely critical in determining product revenue and payback. With product lifecycles becoming ever shorter as new, better, faster models are introduced the development timescale is critical to success. Every day lost in development is a day lost in sales. This is because the overall lifecycle of the product is reduced the longer the development takes.
This may, at first, seem counterintuitive as the product is deemed to have, say, a 12 month sales life following release to the market but this takes no account of the competition which may already have a better model in development. Consequently each day of lost sales is gone forever and never recovered.
If you want to stay ahead of the competition and maximize payback for your developments you need to minimize product development timescales.
No one should pretend that this is easy. There is a fine balance to be struck between developing a quality product which meets the customers requirements as well as any in-house and external Quality approvals. The product development process needs to be robust and well defined.
Your in-house development process will probably be similar to the typical ISO9001 process below.
Sometimes the only way to generate time to market reduction is to have a look at the process with a fresh “set of eyes”
