New Product Development
New Product Development (or NPD) is the process of bringing a new product to the marketplace.
Fourteen TEC supports companies in the digital transformation era to improve the efficiency of all new product development activities, analyze the KPI, and launch on the market the new product to earn a competitive advantage. A company is efficient if develop, monitor and manages all the phases with well-organized digitalization of the whole project portfolio.
When a company starts a New Product Development process?
Your business may need to engage in this process due to changes in consumer preferences, increasing competition and advances in technology, or to capitalize on a new opportunity.
Innovative businesses thrive by understanding what their market wants, making smart product improvements, and developing new products that meet and exceed their customers' expectations.
“New products” can be:
Products that your business has never made or sold before, but have been taken to market by others.
Product innovations were created and brought to the market for the first time. They may be completely original products or existing products that you have modified and improved.
Products that are introduced in completely new markets, repackaged or marketed in different ways.
New Product Development (or NPD) is a process that affects everyone. From large companies to startups, and small businesses can have commercial success by researching, developing, and introducing new or unique products.
Launch of New Products
With Fourteen TEC, companies know that projects are completed more quickly when there are collective planning and continuous monitoring at every stage that improves processes, avoids risk and increasing the chances of success.
In New Product Development (or NPD) processes, whether they are new products or renewed, process management strategies are fundamental to achieving your business goals.
Ask for a call.
SAP Solutions for New Product Development (or NPD) process.
 |
SAP PPM & Product Cost Leader |
“Why I need to define a New Product Development process?”
Get a free, no-obligation call with a specialized consultant.