New product development and innovation are critical to survival and growth in the manufacturing world. Bringing new products to market is important to the long-term health and success of your business. Relying on successes of the past is a quick path to extinction, and manufacturers must continually seek new ways to serve their customers. New products are an important source of revenue, bring in higher sales, increasing consumer loyalty and improving market share.
Importance of the Launch
A new product launch must be carried out meticulously. This is your new product’s opportunity to make a great first impression and gain customers’ attention and convince them to make a purchase. Successful launches will make or break new product sales. Even if you possess the best new product on the market, it will fall flat unless a strategic launch plan has been developed. So much is riding on the development and launch of new products!
The Digital Landscape
The Internet has revolutionized how we communicate, buy and sell, impacting how we develop and launch products. It is projected that 90% of all future products will be produced virtually. Digital manufacturing is one of America’s greatest and most underutilized competitive assets. How can this asset work for your company?
Lean Methodologies Drive Innovation
Lean collaboration, design, and production planning tools are key to achieving your goal: a flawless product launch in the shortest time at the least cost.
Most known for their application to the production floor, Lean methodologies have the ability to enhance all areas of an organization, including new product development. The application of Lean methodologies to a new product development process can result in significant improvements in the design, prototype, pilot and initial production runs of the product, while creating a competitive advantage for your company.
The Michigan Manufacturing Technology Center Has You Covered
Realizing the importance digital product launches can be in manufacturing, join the Michigan Manufacturing Technology Center June 23, 2016 for EXPLORE: Lean Product Launch, a free event addressing topics from market opportunity all the way to successful product delivery. The Michigan Manufacturing Technology Center also offers lean product launch mentoring and consulting. For more information, call 888.414.6682 or email firstname.lastname@example.org.
Since 1991, MMTC has assisted Michigan’s small and medium-sized businesses successfully compete and grow. Through personalized services fitted to meet the needs of clients, we develop more effective business leaders, drive product and process innovation, promote company-wide operational excellence and foster creative strategies for business growth and greater profitability. Find us at www.mmtc.org.