Several trends are reshaping the food, beverage, and supplements industries. Everything is changing from what people want, to how they buy it, to when they consume it. The fragmentation of consumer preferences and the ability to produce products to meet them is increasing the complexity of new product development. Standing still means falling behind.
Product Innovation Can’t Wait
The identification and qualification of suppliers, items, and ingredients remains labor-intensive and slow for most teams. And once a supplier is selected, companies have limited visibility into performance. Documents sit in files, and teams can’t mine them for business insight.
Incomplete information and poor collaboration can have a significant impact on product development and innovation. When you can’t see what others on your team and across your supply chain are doing, status is unclear, and progress stops. Poor collaboration causes inefficiency, waste, and mistrust between teams and supply chain partners. And this problem gets much worse when you’re operating globally.
With new products failing more often than not, many R&D teams struggle to keep up. Companies that want to compete must create better products faster, and this requires a new approach.
Read the eBook to Learn More
In this eBook, we’ve outlined common causes for delays at each stage of new product development and how to avoid them. Download our eBook to discover how your team can accelerate and improve every stage of new product development to achieve better, faster innovation.
Readers will discover: