Accelerate Product Innovation

Delivering Market-Winning Products that Anticipate and Exceed Customer Demands

Challenges


In many ways, innovation equates to survival in today’s market. Your customers want better, faster, smarter products with increased capabilities — and they want them without delay. The obstacles to successful innovation lie in managing the increasing complexity of product development while keeping pace with the rate of change. The challenges of complexity and pace make it difficult to capture, define and verify requirements, align out-of-sync engineering disciplines and prioritize resources. On top of it all, protecting your innovative IP remains a major concern.

ImpactProductInnovation.pngImpact

The consequences of a late-to-market, mediocre product can damage your business. New market opportunities are missed, customer satisfaction levels decrease and your pricing power is diminished — any one of which would likely render the product launch a failure.



“We are constantly churning out products, introducing thousands of new products every 180 days … we have designed new apparel and graphics and have them in manufacturing within 24 hours. That speed allows us to create demand and continually focus on high-performance product innovation.”
— Peter Burrows, CIO Emeritus, adidas Group

What’s Possible

To penetrate new markets, improve customer satisfaction, grow brand equity and increase overall revenue, you must deliver the most innovative new products before your competition. To achieve this, your product development teams need market visibility and an ability to quickly respond to changing requirements. Moreover, the confidence to collaborate in a secure setting and safeguard your best ideas provides the fuel for innovation. By being first to market with innovative products, you’ll be able to penetrate new markets, delight customers and drive new growth opportunities.

Process Improvement Opportunities

The most successful companies accelerate product innovation by transforming one or more of these key processes:

Management

 

Hardware and Software Engineering

 

  • Concept Development: Define alternate product concepts, investigate feasibility and select the best candidates.
  • System Architecture Design: Develop the functional and physical architecture, model of the product, associated specifications and derived requirements.
  • Detailed Development: Define the product design completely, such that it meets requirements and is sufficiently documented for manufacturing.
  • Variant Design and Generation: Define and manage multiple product configurations to satisfy customer-, region- and market-specific needs and accommodate design alternatives and improvements.
  • Verification and Validation: Ensure that designs meet performance requirements and are verified through digital or physical means, progressing from components to assemblies, systems and products.

Supply Chain and Manufacturing

 

  • Product Cost Management: Enable early and ongoing visibility into detailed cost drivers and evolving estimates to ensure products meet landed cost targets.
  • Design and Manufacturing Outsourcing: Engage with a third party to deliver a hardware/software system, sub-system, component design or design services.

Sales and Service

 

  • Requirements Definition and Management: Translate the voices of customers into prioritized requirements, targets and constraints while establishing bidirectional traceability between requirements, analysis documentation, product designs, BOMs and verification data.
  • Performance Analysis and Feedback: Analyze historical product and service performance information to enable continual product improvement and service delivery optimization.










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PTC Solutions

PTC offers a comprehensive portfolio of solutions to help manufacturers accelerate product innovation. To learn more, select any of the solutions below: