4 WAYS TO ACCELERATE NEW PRODUCT DEVELOPMENT

In the race to get to market first, old product development models must be discarded. Sequential development and hand-over-the-wall practices are too slow. Time must be cut out of the process, and a blueprint for doing just that is put forward. It is based on the observation and reporting of many cases where aspects of a product development have been accelerated. It represents a synthesis of the best practices into a coherent approach for speeding up time to market. A holistic view to orchestrate all the business functions, strategic partners and channel intermediaries is required. An accelerated product development programme must be established to streamline and undertake activities in parallel, to launch the product simultaneously in world markets, and to release enhanced supporting services and business processes after launch. The management disciplines and structure to achieve this are outlined.