Process manufacturing challenges exist in many forms. Demands for shorter product lifecycles, need for continuous product innovation, combined with expanding market opportunities leave companies no choice but to stay on the cutting edge of the product development process. In a recent survey conducted by The Aberdeen Group, 50% of process manufacturers cited market demand for higher quality and higher performance products as their top pressure to improve product development.
To meet these demands for higher quality, increased complexity, and calls for lower cost, process manufacturers must take serious measures to affect the product development processes. A popular strategy among process manufacturers is streamlining the development process. Process Manufacturers are 16% more likely to streamline product development than all respondents. Since manufacturers are sustained and driven by product development, they must look for ways to increase the efficiency, and thereby decrease the time-to-deliver and costs, of their development process.
The strategic goal of any manufacturer is to develop a competitive product and operate profitably, while growing their business in an increasingly competitive global market. PMs who streamline their most complex processes enable themselves to develop, launch, and manage products more effectively. To learn more, read the full report: Streamline Product Development in Process Manufacturing.