When developing a new product or service time is of the essence. Shortening the time it takes to develop and launch a product or service into the market is critical to gain a competitive edge, reduce costs and maximize its lifecycle.
Developing new products and services is hard and fraught with challenges. Time is often lost in product development by work simply not flowing and spending time waiting, resulting in huge delay costs through increased development cost, lost revenues or penalties for lateness. We work with businesses in product development from developing jet engines to trains, new IT systems to new medicines to help remove these delays and reduce the cost of them. Here are some of the top challenges we’ve seen from our work in this area.