.«The solution to NPD anemia is not to boost spending, but to raise effectiveness»

 
New product development is a crucial business activity in a period of change and innovation. A substantial portion of your revenues 5 years from now will come from products that do not exist today. Companies must be actively acting for “the next big thing,” and developing new products to replace current breadwinners.

But there is no magic formula for obtaining success with new products. However, experience shows that either efficient management of the New Product Development (NPD) process from idea to launch and engaging lead-users and partners in some parts of the process are a must for success.

Substantial resources will be allocated to identifying and developing these new products. But selecting these future winners is difficult and requires a measured analytic approach that leverages the knowledge inside and outside your organization and respects the various perspectives of your engineering, marketing, sales, and executive team members.

NPD is fundamentally a “people-process” that requires dozens or even hundreds of people to work together, sharing a common vision – one that goes well beyond the scribble on a white board or bullet slides from a presentation. Nevertheless the most widely used tools for supporting it are ad-hoc office productivity tools or simple MS Sharepoint customizations with little or no support for effective cross-functional collaboration and coordination.
 
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