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Best-in-class companies have a time-to-market of 50% less than their competition, and are able to use their New Product Development process as a source of competitive advantage.
Less successful companies fall behind industry leaders in important ways:
- Close to 50% of all resources allocated by US firms for NPD and commercialization are spent on products that are cancelled or fail to yield an adequate financial return
- For every four products that enter development, only one becomes a commercial success
These statistics don’t reflect lost opportunity costs associated with:
- Price erosion due to late market entry
- Lost market share
- Inability to assign resources from delayed projects to work on new projects
- Customer frustration
- Damage to the company’s reputation
At HDA we help companies transform their NPD processes enabling them to win!
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