Product Development
The ability to develop new proprietary products or quickly refine your existing portfolio can be the difference between market stagnation and capitalizing on new growth opportunities. Many manufacturers have the in-house capabilities to develop and commercialize new products, but often need strategic guidance to reduce manufacturing steps, develop prototypes, and ensure that the effort pays back with profitable sales. Companies that utilize a structured approach to new product development have a 400% increased probability of success with new products, 25% increased probability of being first to market, and a 66% reduction in time to market.
