Product - New Product Introduction
Businesses around the world face faster product cycles, increasing complexity of product and supply chain, and increased customer expectations. Businesses that step-up their game of new product development not only survive but thrive in this competitive landscape.
Working closely with espi, customers establish customized new product development processes that improve the predictability of delivery, reduce the time for implementation, improve quality, lower costs, optimize the use of resources, and improve employee morale.
espi has over 100 years of experience in bringing together design with intent and systems thinking to establish the new product development process. This subset of Innovation Excellence is focused on bringing new products and product enhancements to market.
espi’s New Product Development process begins with the Voice of Customer and culminates in Delivering Customer Delight with a focus on profitability. This iterative process happens through a cross-functional team working together through the value-streams. Effectiveness of this process depends on numerous feedback loops that are based on strong communication protocols, risk management, and project management.
espi customizes this process to ensure scalability and transferability to ensure agile and responsive new product development.
Systems Thinking – Systems thinking is a holistic approach to analysis that addresses the way that a system’s constituent parts interrelate and how systems work over time and within the context of larger systems.
We bring in the voice of the customer to define the requirements and then validating the subsystems as well as the entire system to ensure that these requirements are being met throughout the development cycle.
Systems thinking expands the range of choices available for solving a problem by broadening our thinking and helping us articulate problems in new and different ways. At the same time, the principles of systems thinking make us aware that there are no perfect solutions; the choices we make will have an impact on other parts of the system.
By applying our innovation tool kit, our clients achieve the rapid new product development pace needed to succeed in tomorrow’s marketplace.