New Product Development (NPD) in Sciforma 5.0
New Product Development consists of bringing a new product or service to market. This process involves idea generation, market research, marketing analysis, product design, and detail engineering and therefore involves coordination between different departments (Marketing, R&D, Engineering, Quality, Production, etc.).
Successful NPD projects rely on:
- Clearly defined project definition and stakeholder analysis.
- Flexible framework and processes.
- Clear roles and responsibilities.
- Strong team leadership.
- Excellent collaboration and cross-functional teamwork.
- Risk/Reward management.
With Sciforma 5.0, you can:
- Create work flows that integrate your "Stage-Gate" or "Phase-Review" frameworks.
- Initiate and describe a new idea.
- Help project managers estimate the technical feasibility, market Impact or financial reward for any idea.
- Manage the relevant prioritization criteria and gather stakeholders’ opinions.
- Generate an efficient dashboard to help management select future successful projects.
- Roll-up and monitor the new projects’ performance.
- Balance between different activities (innovative projects, regulatory projects, continuous engineering, etc.).
- Combine views of projects (strategic vs operational) to enable powerful Key Performance Indicator (KPI)-based dashboards for ensuring projects are on track.
Sciforma 5.0 industry customers testimonials
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