Understanding and Managing Risk in New Product Introduction

June 15, 2023 - PRLog -- Product Development (PD) is the lifeblood of an organization's success and is vital for the process for innovation. Today, product life cycles are shrinking due to an ever increasing number of competitors and disruptive products coming to market faster than ever before. To stay competitive, a organization's New Product Introduction (NPI) process needs to constantly become more efficient, effective, and faster. This means a better first time through capability of NPI systems; from concept to customer. There are many operational elements in the introduction of new products that must work together in an NPI system: requirements management, ideation, concept architecture, system design, product feasibility, supply base capability, customer requirements management, product development, manufacturing, delivery, and field service. All of these must be analyzed to understand the inherent risk associated with them and to establish controls to address those risks and mitigate their impact on any gaps to their targets. Any gaps will affect the overall performance of delivering products and services as promised. This webinar will introduce you to the elements in NPI process where risk is inherent, what those risks are, and how to mitigate them using process checks and controls to reduce and eliminate unplanned and costly unexpected outcomes. Considering risk and integrating controls to manage the risk in the way products are specified, developed, designed, and realized in our product development systems is key to delivering products and services that meet customer needs. Doing so will result in faster, more effective product introductions with high profit margins. Participants should attend this webinar to understand what identifying and controlling risk means for improving your New Product Introduction process and how it will help your organization remain innovative and competitive in the current fast-paced world of evolving New Product Introduction.
Register now: https://my.omnex.com/Webinars/WebinarRegistrant?Webinarid...