Changing Market Conditions Necessitate Scaled and Streamlined Product Launch Processes for Manufacturers
By Kristen Mery on Dec 5, 2019
There’s been a huge disruption in the manufacturing industry with several small nimble brands entering the marketplace and grabbing market share from large, established manufacturers.
Size used to be one of the most important factors of success, but e-commerce has leveled the playing field, subsequently allowing smaller brands to reach consumers in unprecedented ways.
IRI data cited by Forbes, Oct., 2018
Whether you work for a large or small manufacturer, this transforming marketplace is putting new pressures on teams. To better understand these demands, we surveyed 199 manufacturers who use SAP ERP systems to find out what businesses are doing and planning to do when it comes to their New Product Introduction (NPI), product launch, or commercialization processes.
The findings from our survey are exceedingly clear: In this new dynamic marketplace, better and faster product launches are key to operational agility.
68% of U.S. CEOs believe that it is a do-or-die for business; that being too slow leads to irrelevance.
KPMG 2019 U.S. CEO Outlook
Let’s dive a little deeper…
In line with KPMGs 2019 US CEO survey findings, our respondents noted increasing CEO angst around organizational agility and even more pressure on the launch phase of the product lifecycle. Being able to innovate fast is great, but if it takes months or years to translate those ideas to products rolling off the assembly line, the market has already moved on.
Currently, 70% of our respondents take 6+ months to launch a net new product, and 74% are feeling the pressure to speed up this process. And it’s not just new product launches creating this pressure – manufacturers are regularly executing multiple launch types including line extensions, ingredient or component changes, and label changes and package redesigns. Combined with numerous plants and geographic extensions, it’s clear to see that the volume and complexity of these sometimes manual processes (60% are still using paper forms, spreadsheets and emails) can get quite messy.
The better news is Winshuttle offers a flexible product launch platform that can handle any launch process type, high levels of complexity, and high volumes—so attacking this daunting process head-on can be easier than you might expect. To see the nitty gritty details, and real world examples from customers like Monster Energy, read the full survey report and let us know how your organization plans to stay relevant this ever-changing marketplace.
About the author
Kristen leads the Americas marketing team at Winshuttle including demand generation, channel, and field marketing. She is passionate about connecting organizations with Winshuttle’s leading data management solutions, and creating memorable customer experiences.
Questions or comments about this article?
Tweet @kristen_mery to continue the conversation!