Is it Actionable? Building a Path from Innovation to Production

Recently, I participated in a round-table discussion on developing building products made of agricultural byproducts. The goal of the discussion was to map out strategy for new product research and development initiatives.

What struck me about the discussion was how little advance work has been done relating to trends in material science, building codes, and builder/specifier/end user needs. Further, the implementation team did not seem to have a strategic, process-based new product development system that included defined tollgates and commercialization strategies.

Sound familiar?

At Axiom in our new product development and innovation practice, we have a variety of tools to help remedy situations like this. These tools include:

• NPD Process Mapping and Optimization – For 23 years, we’ve helped manufacturing companies around the world codify and optimize their new product development processes. A big part of this effort involves identifying steps that can be eliminated to accelerate new product development and commercialization using insights, technology and advanced manufacturing methods.

• New Product Screening and Prioritization – Most companies have too many new products currently moving through the funnel. Substantial human hours and scant financial resources are spent on products that are ultimately not market viable. Our screening and prioritization methods help resolve this issue by identifying the winning product concepts earlier in the process based on market analysis, voice-of-customer and channel trends. For a well-known consumer products company, we were able to eliminate or shelve 250+ different products at an annual savings of more than $1MM per year.

• Product Information Charter (PIC) – Success in innovation and new product development starts with good communication. Our PIC method translates C-Suite strategy into the new product and innovation realm. The deliverable is a 2-page brief for everyone in the enterprise from top to bottom on the key focus areas of innovation and new product development for the coming year. Most important, the method outlines a road map for submitting new product or service concepts for consideration.

• Innovalytics (Innovation, Value and Analytics) – We offer a structured brainstorming session with individuals who have deep market knowledge relating to the innovation challenge. Groups may include engineers, scientists, specifiers, including architects designers and researchers, etc.  Prior to the session, we prepare a detailed “homework” assignment that contains market trends, user needs, scientific background information, existing product concepts, and so on. During the session, we generate new concepts and refine existing ones. The concepts are drawn and concept statements are written so participants can hear immediate qualitative feedback from our end user-customer social media panels.

Back to the round-table: I couldn’t help but think how the discussion might have benefited from a closer look at market dynamics and market needs, how this information could be used to accelerate the R&D process, and ultimately its impact on new product commercialization for the building sector.

Here are a couple of great resources replete with new product development and innovation best practices include: Product Development and Management Association and Society for Concurrent Product Development.

For more information, please contact: Mike Reiber at mreiber@axiomcom.com or Rob Beachy at rbeachy@axiomcom.com.

For a detailed listing of new product and innovation tools, visit: Axiom Tool Box.