Currently, the need for lean, rapid and profitable new product development has never been greater. Product life cycles are shorter, competition is more intense and customers are more demanding. Companies that fail to innovate face a grim future. The problem is that winning with new products is not easy. An estimated 46% of the resources that companies devote to the conception, development and launch of new products go to projects that do not succeed - they fail in the marketplace or never make it to market.
A stage-gate system is one solution to what ails so many firms' new product programs. It is both a conceptual and an operational model for moving a new product from idea to launch. And it is a blueprint for managing the new product process to improve effectiveness and efficiency. Facing increased competition from home and abroad, maturing markets, and the heightened pace of technological change, corporations look to new products and new businesses for sustained growth and competitive advantage.
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