Product Innovation Benchmark
|
Innovation Leadership Has Emerged as a Key Strategy in an Increasingly Competitive Global Environment |
A singular focus on cost leadership is losing its potency:
- Manufacturing production continues to shift to low cost operating locations such as China, Eastern Europe, and Mexico;
- Low cost countries are developing more sophisticated skills in engineering, design, and technical support and service;
- A new wave of Chinese, Indian, and other “off-shore” firms are emerging as global competitors.
Innovation leadership has emerged as a superior strategy for continuously outpacing the competition:
- Need to understand customers and markets better than competitors;
- Need to translate this understanding into a steady stream of innovative new products and service offerings;
- Need to do this in a productive, efficient, and timely fashion.
However, companies are struggling with how to measure current and future innovation effectiveness.
Introducing PMG’s Product Innovation Benchmark
Do you know what impact your approach to product development has on your organization’s top and bottom lines? Find out how you measure up with our Product Innovation Benchmark. The study provides meaningful assessments of your global product development practices and their impact on revenue, profitability, and financial returns.
Find out how effectively your company develops products
The study will assess your product development capabilities and help you understand how and where to make changes that will improve your bottom line. It addresses critical CXO-level questions, such as:
- Do your product development practices yield positive bottom-line returns? How do you perform compared to similar businesses?
- Are you innovative? Do your idea-generation practices yield positive returns?
- How productive is your product development engine? Do you have a handle on spending?
- What’s your speed to market, and how do you compare with the competition?
- Are you maximizing your current market presence?
This benchmark is groundbreaking for the entire innovation focused marketplace:
- Unique breadth—This benchmark is the first ever to assess the entire value chain of innovation from innovation to product delivery;
- Unique depth—This benchmark is the first ever to measure both quantitative performance (i.e., cycle times) and qualitative efficiency (i.e., functional collaboration). Most benchmarks measure only quantitative elements;
- A deep dive assessment of your R&D and product lifecycle performance that uses established metrics and frameworks (PACE);
- A solid mix of quantitative and qualitative questions are used to provide you with a true assessment of your performance;
- In addition to receiving fact based quantitative metrics/results, we use a structured
- qualitative practices assessment to directly correlate how your practices are affecting your performance across each metric;
- Results will be provided at an industry level to give our client’s a true “apples to apples” comparison benchmark. In fact, results are analyzed by industry experts;
- Readouts will be customized based on each client’s individual results and the information we collect through the executive briefing. Recommendations will also be included in your results.
Getting
started with your Product Innovation Benchmark is easy
Contact us at: +1 781.434.1470
Email: info@pmgbenchmarking.com
Related
PRTM articles
New book on
the latest supply chain management strategies
|
Related
PRTM services
> Visit
PRTM's web site
|
|
