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New Product Introduction (NPI) is the staged process that translates a market need into a sales-ready product. Failing to plan NPI effectively could cost your business dearly: research suggests 50% of new products fail to meet their objectives; 70% of NPI projects take longer than expected; and 33% of new products fail at launch.

There is increasing pressure on manufacturers and their supply chains to bring new products to market faster, at lower cost and improved quality levels. In many cases products are in production for shorter lifecycles with more frequent product facelifts, improvements and new model launches. For many manufacturers NPI capability is becoming a significant competitive differentiator.

Typical issues in New Product Introduction

  • Customer dissatisfaction
  • Lack of understanding why NPI processes don’t deliver quality products on time to target cost or budget
  • Failure to identify and manage problems at early stages of development
  • Lack of structure to apply previous experience
  • Unclear communication of customer requirements or business strategy
  • Overstretched and unplanned resource capacity within technical, manufacturing, inspection and supply chain

How Industry Forum can help

Use our insight, experience, planning and training to ensure smooth new product introductions and a profitable Return-On-Investment. We have a proven background in helping companies improve their new product introduction process effectiveness. We can help companies:

  • Understand and fix the systemic root causes for poor NPI process execution
  • Get to “spike-free” new product introduction and minimise waste and exceptional costs during product launch
  • Implement proven industry best practices and programme management disciplines
  • Design, implement or improve the cross functional processes, frameworks and methodologies needed to increase NPI process effectiveness and efficiency
  • Reduce lead time and cost for new product introduction

Industry Forum work with client teams to develop sustainable and effective solutions to the issues identified in the NPI assessment. The preferred style of approach is to engage in practical workshops to work with a cross-functional team to understand and analyse data relevant to the issue and develop achievable action plans to solve the root cause of the issues. Wherever possible, actions will be completed within the workshop phase, although some actions may take longer to implement and the company team will be expected to continue the work in between follow-up support visits. Where relevant, this may also include specific topic training to ensure the team understand the underlying principles used to come to a solution. This could typically be a 30 minute session to set the scene for an activity, followed by facilitation of a team event to develop a sustainable solution.

Activities are typically structured as:

  • Step 1: Workshop session to decide and start implementation of actions agreed
  • Step 2: Follow-up Review to ensure actions are completed and effective
  • Step 3: Drive further effectiveness of the new system established

Coaching during the action implementation phase may also be used to ensure the team are capable of delivering the actions and improving the business processes to make improvements sustainable after the initial focus has reduced.

New Product Introduction Services from Industry Forum

Our NPI consulting services take your innovation from request for quotation to full scale manufacturing of sales-ready SKU items. Typical New Product Introduction projects we undertake:

  • NPI Process Effectiveness Assessment
  • NPI Process development (4-Field Mapping)
  • NPI Process effectiveness measures
  • Learning from experience
  • Project Management (PRINCE II)
  • Project planning
  • Project monitoring and reporting
  • Risk Management
  • Escalation
  • Change management
  • Stakeholder Management and Communication
  • Design for Manufacturing
  • Programme Management and Resource Planning
  • NPI Core Tools
  • Feasibility and Contract Review
  • Supplier Management

Fast Facts

…Over 250,000 new products are introduced to the world annually…

…75-90% of new product introductions fail…

…A recent study of NPI from US SMEs in the food sector found a success rate of 11%…

…Historically UK Hi-Tec venture capital investments have shown an aggregate rate of return of less than 1%…

What next?

For further information and an initial and confidential discussion of your needs, please call +44 (0)121 717 6600 or email us today.