Innovative companies today are not making customers adapt to their products, but making their products adapt to the customers. As needs rapidly change and competition for these needs becomes stiffer, having a streamlined product development process creates an innovation agility that can roll with the punches. Product development agility to quickly respond to the market is not only becoming more desired, but truly essential to staying/ becoming a profitable organization.
There are many reasons for organizations to transform their product development process, but CGN has identified a few key points from our experience that make the transformation necessary:
- Only 51% of new products are launched on time
- Many product development projects have high cost over-runs
- Process quality issues impact new product programs
Statistics from a recent APQC Benchmarking study show that:
- Products launched within the past 3 years account for 27.5% of companies sales.
- Product lifecycles are getting shorter: a 400% reduction over the past 50 years
- Just over half (56%) of new products meet their financial goals
These factors are continuously raising alarms throughout the business community. Business leaders around the world, in virtually every industry, agree that the time for a streamlined product development process is a critical piece in world-class innovation, customer satisfaction and organizational performance.
How We Do it
CGN’s Lean Product Development offers thought leadership and advisory services for eliminating waste throughout the product development system and creating a true collaboration framework. This service delivers significant value and substantial improvement in product development program performance on multiple dimensions including time, cost, quality and innovation.
Our Lean Product Development takes into account critical product development factors based on 4 core categories: Globalization, Customer, Technology, Integration:
CGN Global has over 20 years of experience performing Lean and Product Development transformations for Fortune 500 companies. Our unique, collaborative mix of Lean Six Sigma certified professionals, supply chain and operations SMEs, strategy specialists and extensive industry experts work together to devise innovative solutions for our clients.
Lean Product Development Services
Our service concentrations are very comprehensive and span the complete product development program. They include:
- Product Architecture Analysis
- Intelligent Program Design
- Predictive Quality Management
- Product Development Process Optimization
CGN strives to deliver a sizeable return on investment for our clients. In a project for a Fortune 100 company, CGN achieved:
- 20% reduction in product development cycle time.
- Savings of $5 million in parts costs through complexity reduction.
- 33% higher efficiency in resource utilization.
- 12+ weeks advantage over competition by better speed-to-market.
- Increase in Performance of Programs- 35%
- Reduce program time/cost – 20%
- Increase flexibility in planning and execution
For more information on CGN’s Lean Product Development capabilities, please contact: