Aberdeen Group: The Product Innovation Agenda Benchmark Report
Product Innovation, Product Development, and Engineering Improvement for Profitable Growth
AberdeenGroup surveyed and interviewed more than 125 companies across the globe to better understand manufacturer’s objectives for product portfolios, challenges they face in developing profitable products, actions to reach strategic product goals, and technical enablers that help companies improve product innovation. Not surprisingly, they found that manufacturers are facing unprecedented challenges developing products in a fast-changing, economically uncertain global marketplace.
Leading companies are responding to this challenge. While there are many opportunities for improvement, Aberdeen found that best in class companies have organized for innovation. Leaders are more likely to have centralized coordination of product development processes, measure innovation performance more frequently, evaluate as much as the enterprise as possible with key performance indicators, and have standardized processes.
Download Aberdeen’s Product Innovation Agenda Benchmark Report to learn why Aberdeen recommends that manufacturers:
- Evaluate their product innovation goals in business terms as opposed to just operational metrics.
- Identify and implement operational improvements that yield tangible business results.
- Intelligently implement PLM (product lifecycle management) technologies to teach revenue growth and product cost reduction targets.
- Not try and implement PLM processes and technology all at once by picking and choosing a path to the right value for your business, then continue to build on that foundation.
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