New Product Development
R&D teams are taking a more inclusive approach to product innovation, opening their process internally to employees from other divisions, as well as externally for open innovation projects with customers, partners, and suppliers.
The ultimate measure of innovation for many companies is the success of new products brought to the market. In a competitive world, finding genuinely new product innovations that transform a market or offer a step change in a company’s growth are few and far between. Companies can no longer afford for ideas to “slip through the net” or lay undiscovered. They need to maximize their existing resources and leverage the creativity inside and outside their organization.