Reduce Time-to-Market

Outpacing Competitors and Taking Market Share Means Fast-tracking New Product Introductions

Reduce Time-to-Market: Challenges

Challenges

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.


Reduce Time-to-Market: Impact

Impact

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.
Kinect

What’s Possible

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:

Management

 

  • Program and Portfolio Management: Drive innovation, optimize collective value, manage risk and make trade-off decisions across a set of programs while ensuring alignment with strategic objectives.
  • Project Management: Plan, execute, monitor and control complex development efforts and dependencies spread across globally distributed project, product and technology teams.
  • Regulatory Compliance: Determine product regulatory obligations, collect and assess evidence of compliance, communicate results to internal stakeholders and report evidence of compliance to customers and regulators.
  • Quality and Reliability Management: Conduct systematic planning, prediction and simulation to ensure designs meet reliability and lifecycle cost targets.
  • Change and Configuration Management: Evolve products in an orderly fashion, from concept through retirement.

Sales and Service

 

  • Application Engineering: Respond to a customer’s request for proposal, pricing, or information by collaboratively creating a timely, accurate and competitive formal response.
  • 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.

Hardware and Software Engineering

 

  • 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.
  • 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.
  • Variant Design and Generation: Define and manage multiple product configurations to satisfy customer-, region- and market-specific needs and accommodate design alternatives and improvements.

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.
  • Component and Supplier Management: Enable effective selection, creation and incorporation of preferred parts and suppliers during the product development process, including the management of associated relevant characteristics.
  • Manufacturing Process Management: Define and manage the manufacturing processes to be used to fabricate parts, assemble final products and perform inspection.

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PTC Solutions

PTC offers a comprehensive portfolio of solutions to help manufacturers reduce time-to-market. To learn more, select any of the solutions below: