Leading $4.5 Billion consumer good producer.
CEO and Executive team needed to reevaluate extended product development cycle in order to stay ahead of competition in introducing new products.
- Analyze client’s product development organization from people, process, technology and governing policy point of view.
- Review path to market process to determine organizational roadblocks and inefficiencies.
- Determine required technology to support drive efficiencies in product development organization to improve time to market new products.
- Propose new operating model to cut down product development time by minimum 40%.
The client was losing market share due to their inability to introduce new products in the market faster than their competition. Typically, product introduction was 2.5 to 3 years while the competition was 12 to 18 months.
We were able to:
- Analyze product development cycle.
- Suggest changes that will optimize the process and reduce time to market new products.
- Recommend technological investments that would drive overall efficiencies in the product development organization.
- End-customer centric value chain analysis – analyzed current state of product development organization. This was done by identifying inefficiencies and path to market using Strataid’s proprietary customer-driven value chain analysis tool.
- New operating model – Suggested key people, process and policy changes to cut product development and launch time by 50%.
- Modular product strategy – Developed plan to transition client’s product line from end-to-end customization-centric to modular product strategy.
- Technology transformation – Developed plan to transition to new product development technology tools that would drive communication efficiencies, single-source of truth, and would eliminate redundancies in the process.
- Cut down time to market by 50%.
- Total 10% FTE elimination which funded new technology investments.
- 25% reduction in product components through product line platform strategies.