How To Optimize New Product Introductions
Why is it crucial to optimize the New Product Introduction process?
Optimizing the New Product Introduction (NPI) process is critical for any company that wants to launch new products efficiently and effectively. With up to 20% of annual turnover invested in research and development, marketing, and trade spend, launching a new product can be a significant expense. Additionally, there are significant manufacturing and supplying costs to consider before, during, and after the launch phase.
By establishing an efficient launch management process, companies can minimize these costs and maximize the return on investment. A streamlined NPI process ensures that new products are launched on time and within budget, with accurate sales forecasts and demand planning. This, in turn, allows companies to avoid costly delays and minimize the risk of product obsolescence.
The 5 Key Pillars S For New Product Introductions Process Optimization
How can FuturMaster help you optimise your NPI process?
FuturMaster offers a comprehensive solution to optimise the NPI process, from product ideation to launch. With its advanced data integration and AI-powered forecasting capabilities, FuturMaster empowers companies to accurately predict launch quantities well in advance, reducing the risk of under or overproduction. The platform also enables teams to track and manage launch costs, including marketing and trade spend, manufacturing and supply costs, and more. FuturMaster's dashboard and scenario planning tools enable informed decision-making, allowing companies to quickly respond to changing market dynamics and maximise opportunities.
By providing data in real-time and in a user-friendly format, FuturMaster helps companies streamline the NPI process, reduce costs, and improve return on investment.
Download this whitepaper and discover the 5 key pillars of an optimized New Product Introductions!
In this white paper, you will also learn:
- Who’s concerned by optimizing new product introductions (NPI)?
- Why is it crucial to optimize NPI process? What are the Benefits?
- What are the challenges companies are facing when optimizing New Product Introductions (NPI)?
- How to optimize your NPI process? The journey towards optimized NPI – The 5 Key Pillars
- How FuturMaster can help you to optimize your NPI process?