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MindMap Gallery How to conduct new product development and supply strategy management

How to conduct new product development and supply strategy management

Product managers aged 0 to 3 years old will value new product development, but tend to ignore strategic supply management, which may lead to increased costs and the risk of project delays.

Edited at 2022-11-03 22:04:17

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How to conduct new product development and supply strategy management

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Outline

How to conduct new product development and supply strategy management
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How to conduct new product development and supply strategy management

New products development

Requirements gathering

Opinions from customers or users, proposal solicitation, ODM, internal strategic direction of the company

Incremental product innovation, customization, derivatives, breakthroughs; most are incremental product innovations

product development

Manage the risk of new product failure

There are many product ideas, and less than 1% may enter the development stage, and less than 10% can actually generate revenue after development is completed.

Pay attention to the front end

Analyze fuzzy requirements and pursue cost-effectiveness

Environment: Is it the real demand of the customer and is the description accurate? Is the demand needed by the market and is it competitive?

Resources: Is the technology easy to implement, easy to manage and maintain, and are the required funds and manpower sufficient?

Management Tool: House of Quality

Early supplier involvement

With the same needs, I have many contacts with suppliers, and they may be able to give suggestions and provide references.

Checkpoint review, correct decision-making

Node milestones, evaluate and score the delivered results to determine the next phase of the plan; this review must have clear output, such as pass/cancel/shelve/redo, etc.

Plan the product development process

Sort out the requirements, summarize and analyze them, get some functions, and enter the product design process.

A good development process is derived from a lot of practice, which can normalize and standardize development, and enable better communication and collaboration among various departments.

Doorway management process

Set reasonable stage reviews, gradually reduce uncertain risks, and emphasize quality decision-making, but it may become cumbersome and bureaucratic; and following guidelines and constraints may stifle creativity to a certain extent.

Consider combining it with agile development

Integrated product development

Generally suitable for large projects, it should be managed prudently as an investment; similar to building a product line, all parties can respond quickly

product innovation strategy

Porter Strategy: An organization’s advantage ultimately lies in cost advantage and differentiation

product portfolio

product portfolio management

For financial stability, use profits from mature products for new product development

Portfolio management is dynamic and requires constant review to allocate resources based on overall goals and strategies to increase success rates.

Project balance: The number of projects in technical pre-research, research and development, and pending trial production must be reasonably distributed.

Try your best to have heart-warming products in every period.

Pipeline balancing: It is best for an engineer to handle 2 projects at the same time. This is the most efficient time,

If you don't have to wait for others to finish, it's a waste of time; if you don't have too much, you'll complain and be negative.

product level

There are 3 or 5 division methods, which are essentially the same.

No matter how divided, only by meeting the core interests of users can we obtain benefits. If there are additional functions, the value can be higher.

product value proposition

You can use this to introduce our products to customers and highlight features and competitive advantages.

This (product name) is (what), it is mainly used in (target market), and the reason for buying this product is

(what benefits it brings), rather than (product features) of (competitor).

supply strategic management

For different sales targets, there are different supply chain layouts and strategies (QCDST)

The bullwhip effect in the supply chain

Changes in demand orders lead to time lags in response and changes in quantity. The impact will be greater in later stages, resulting in a waste of resources.

solve

Establish collaborative planning, forecasting and replenishment system (CPFR)

SMI/VMI: Inventory warehouses should be placed as close to suppliers and factories as possible.

Or regular special vehicle delivery, which can plan shipments calmly and reduce logistics costs.

Choose the right manufacturing strategy

Follow-up strategy: production follows demand, pull type

Equilibrium strategy: No matter how demand changes, production is based on a determined output volume, buffer type

Multiple suppliers

When there are multiple suppliers for a thing, reasonable quotas must be used

Determined based on supplier experience, influence, and competitive advantages

Suppliers need to promise to regularly update plans and delivery targets. They need to leave evidence when necessary and can sue for larger losses.

Early supplier involvement

Supplier Advantages

Have the same or similar product development and production experience

Have cooperation and service experience with the same or similar customers

May have a better understanding of the product

Be familiar with other customers’ products or solutions

Possess supply chain technology and cost information

Provide more comprehensive supply chain information, alert about delivery times or instability, provide alternatives or recommend new products - Qualified Product List (QPL)

Identify possible potential costs to help reduce costs

Input some opinions in early design to avoid design risks and advance product development progress faster

But you can’t participate deeply

Resulting in high stickiness and affecting subsequent costs

Screen suppliers carefully, sign confidentiality agreements, and do not have a good relationship with my competitors.

Build good relationships with suppliers

Only with good relationships can suppliers’ advantages emerge.

Conduct regular supplier business reviews

To ensure that it is a high-quality supplier

Summarize

For the product development process, our company already has a standardized process, and everyone can follow the process well, and can flexibly simplify or increase the process according to the size of the project.

In terms of quotations in the early stage of the project, our company pays more attention to the cost and not enough to the delivery date. For some urgent projects, the material delivery date often becomes a constraint, and we will even buy spot goods.

For this, when the business has needs, it is recommended that the business be notified in advance, especially for functions that have not been done before, so that engineers can design them in advance, list the key components, and let the purchaser inquire about prices and delivery dates. For long delivery times, you can Let suppliers provide replacement materials to reduce the impact on delivery times.

In fact, our company basically does not have early participation from suppliers, maybe because the current products are relatively simple, and for subsequent complex products, this method may be considered, but the confidentiality system and participation process need to be defined in advance.

At present, our company's mold supplier still needs to be improved. It is easy to have problems with edges and steps, and it is difficult to meet requirements such as waterproofing and explosion-proof, which leads to the investment of additional human resources to solve the problem of grinding tools.