Create and Maintain a Profitable, Innovative Portfolio
The best-selling products are often the most innovative, not the least expensive. For these market leaders, bringing new products to market quickly with limited resources, requires visibility into product performance. PTC’s Brian Shepherd addresses the challenges of making the right product investments throughout the product portfolio.
Manufacturers are under increased pressure to deliver new products faster. But all too often, product development resources are spent on products that fail.
Effective execution of Program and Portfolio Management can help drive a higher percentage of revenue from new and innovative products while commanding a price premium for being first-to-market.
The PTC Program and Portfolio Management solution can help you create and maintain a profitable, innovative portfolio of products.
How it’s done:
- Govern product development and monitor program performance
- Plan for innovation by capturing new ideas and integrating the voice of the customer
- Balance development capacity across new and existing products and programs
Accelerate Product Innovation
Making the right decisions to invest in one product over another requires not just insight to financial information, but also to the product development resources required to create the right product.
From idea conception through to engineering and manufacturing, product executives face challenges to effectively manage the entire product portfolio, including:
- Lack of visibility into portfolio performance due to ad hoc processes and manual tools that can’t keep pace with changing business conditions
- Lack of data to objectively manage product priorities, and a resulting lack of accountability in decision-making
- Inconsistent New Product Development processes that increase the chance of market failure, making innovation too risky for many companies
With effective execution of Program and Portfolio Management, product executives and managers can align product development with strategic goals, enabling manufacturers to:
- Earn 25% more revenue from new products1
- Improve return on NPD over 20% due to transparent decision-making and reallocation of resources1
- Lower program and product costs up to 1/3 2
1Aberdeen Group, 2 IDC Manufacturing Insights