New Product Development Study Revealing Interesting Trends
MILFORD, OH; MAY 27, 2008 – International TechneGroup Incorporated (ITI) and iTiD Consulting Ltd. (iTiD) are seeking participants for an on-going study to determine Best-in-Class standards for New Product Development. Participating organizations will receive, at no cost, a report highlighting study results.
Since late 2007, ITI has been working with manufacturers throughout North America, and now Europe, to measure the manner, speed, and efficiency in which new products are developed. The study is a continuation of a program initiated in Japan by iTiD (iTiD is jointly owned by ITI and Japan’s ISID and represents ITI in Japan operations). To date, survey data has been very successful collecting data from nearly 7,000 participants representing companies around the globe and throughout industry. The goal is to continue to expand the study globally in order to build upon the current findings.
“As study participation grows we’re beginning to see some very interesting trends,” explained ITI Chairman, Michael Lemon. “For example, a growing number of companies are overly dependent on the experience of an aging workforce. Often process guidelines or rules are left undocumented with regard to key decisions regarding the manner in which products are defined, designed, and developed. In many instances disorganized processes are overcome by tapping the expertise of an experienced senior engineer or project manager,” continued Lemon. “Human judgment and experience certainly have their place in new product development; but manufacturers have to take steps to ensure that this knowledge is effectively captured and doesn’t retire with the individual.”
Studies in Japan show that an average company grew 0.23 points from a similar study conducted in 2004. While all areas of development improved, supplier management and regulations conformance showed the largest improvement. This is a representation of the efforts to conform to new energy and eco-friendly regulations as well as managing suppliers to establish higher quality.
Also a common trait, regardless of geography, is a trend to have less rules and process definition in the early phases of new product development. Product planning and concept design rely more on individual effort than downstream processes such as detail design and evaluation.
Participate in the Study
For more information or to participate in the study contact:
North America Japan Europe
Robert Farrell Shingo Tsuda Enrico Bergamasco
ITI iTiD ITI
513-576-3900 81-3-6713-5700 39-335-6263700
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Centered in Tokyo, Japan, iTiD provides consultation services for manufacturing companies mainly in the area of product development. iTiD not only helps its clients develop high quality products but develop them much more efficiently. iTiD is also known for its development capability survey noted in the article which incorporates the iTiD INDEX. A total of more than 100 prestigious automotive, electronics and other manufacturing companies have used this study to measure their product development competence and to indentify the underlying strengths and weaknesses.
Headquartered in Milford, Ohio (USA), ITI is the world’s leading provider of consulting, software products and related integration services that enable clients to dramatically improve their product and manufacturing process development capabilities. The Company’s Best Practices for New Product Development have evolved to help companies in almost every industry reduce time to market, reduce development cost and ensure hit products before significant investments have been made.
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