Several trends are reshaping the food business. Everything is changing – from what people buy, how they buy it, and when and how they consume it. Standing still means falling behind. The fragmentation of consumer preferences and the ability to produce and access products to meet these preferences increase the complexity of new product development.
In the battle for shelf space, food, beverage, and dietary supplements companies must launch more new products, more often. But new product launches fail more often than not. And when new products take a year or more to launch, that translates into a lot of wasted time and resources. Companies need a new approach.
Companies must speed up the new product development process to increase the number of product launch attempts. By failing faster, businesses have more opportunities for success. But this kind of transformation requires increased efficiency and speed at every stage of the product development process.
Download our eBook to read more about the top trends and how you can move faster to capitalize on them.
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