Product Innovation

Six Habits of Highly Innovative Retailers

As retailers look to drive profitable growth through loyalty and differentiation, innovation usually plays a prominent role. Innovation can take many different forms, such as product, customer experience, business model, service and process innovation. However, becoming innovative is not easy. Innovative retailers are those that excel at solving high-priority problems for their target customer and help meet unmet customer needs – often ...

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Why Your PLM Solution Has Not Delivered Value Yet

More than two-thirds of organizations with Product Lifecycle Management (PLM) solutions in place don’t realize the expected value from their implementation. As PLM system implementations have become more prevalent, analysis of PLM value has shifted from the theoretical to the empirical. There is now a sufficient historical basis to examine where the promises of PLM have fallen short and why. ...

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Does the new need to be new?

Does every innovation need new technology, or a new manufacturing process, or a new patent? Does it need to be new for the sake of it? Not if you understand exactly what you have before you start, and how it can be exploited further to meet new demands in the marketplace.

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What Types of Innovation Projects Should Be Included In Your Portfolio?

Question: We’re a very large, well-known consumer products company, and our portfolio is actually quite complex, as we have many different types of initiatives included, all at vastly different stages. In fact, we often debate whether certain projects should be included at all. Do you have any leading practices related to defining what should be included, what should be left ...

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When More Innovation Isn’t Your Best Option

Stressed Innovator

The more innovation, the better. That seems to be the going mantra. After all, who wouldn’t want to come up with something new? You can gain additional share of existing markets, or even create new ones. But there comes a tipping point. One where more innovation doesn’t help a business. It hurts it. When improperly paced (i.e., pacing too many ...

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Quality, Speed, and Cost: How to achieve all three in Innovation

Quality, Speed, and Cost. Pick Two. A long-standing belief across chemical and industrial product companies is that it’s not possible to rapidly produce low-cost, high-quality products. Many companies dedicate their best manufacturing equipment and people to quickly develop and launch a high-quality product, but these additional resources drive up costs unexpectedly. In other situations, management decides to deliver a very ...

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