In today's hypercompetitive and fast-paced world, you are under constant pressure to deliver new products faster. However, your biggest obstacle is often fragmented product development processes. The result is an inability to rapidly implement changing requirements, efficiently reuse product information and perform early validation of configurations — all of which can lead to wasted time by your teams.
The consequences of project delays, missed schedules and late delivery dates are severe: lost market share, price erosion and lost revenue. What’s more, long product introduction cycles can undermine your position in the industry as an innovator.
Teams working on Kinect™ for Xbox® implemented solutions that would help enable quick design changes, improvements to change/configuration management and adherence to regulations. The result of being the first of its kind on the market? Eight million units sold in the first 60 days
— a Guinness™ World Record for the fastest-selling consumer electronic device.
Standardizing and optimizing product development processes with a single source of truth for product information enables you to shorten development cycles. Global collaboration becomes standard business practice, not a hindrance. Increased reuse of critical information like designs, parts and processes leads to less rework. Early and continual product validation prevents delays due to regulatory mandates. All of these elements ensure that you’ll be the first one to meet your customers’ needs — strengthening your brand loyalty, increasing customer satisfaction and improving your market opportunity.
Process Improvement Opportunities
The most successful companies reduce time-to-market by transforming one or more of these key processes: