New Product Development (NPD)

Product Development and Time-To-Market

New Product Development (NPD) are long-term and complex processes to implement for businesses. Competition and pricing continue to be top areas of concerns, raw materials’ cost persists as an ongoing worry, and regulations are regularly evolving and strengthening. Businesses need to be innovative and attractive, while minimizing costs, in order to stay leaders in their industries. However, they face an ever-changing environment (i.e.: new products, technologies, methods, customers’ wants, etc.), strong local and international competition, shorter product life cycle, and so on. In addition, companies are constantly looking for new ways to speed up time-to-market as it plays an important role in outdoing competition. Yet, in spite of the challenges, the industries are optimistic predicting continued increases in sales, product offerings and workforces through product innovation and product development.

Product innovation, time to market, accuracy and visual appeal are critical to achieve successful execution. Product development is an essential lever for competitiveness. Product innovation is one of the best means to add value to products, to get into new market places and to better answer consumers’ needs and wants. To lead competition, it is important for companies to evaluate their business models and offerings frequently enough and change them if needed.

Product development can also consist of enlarging ranges, developing new formula based on an existing one, offering different sizes of the same product or adapting packaging. Therefore, whether it is a new product development or re-developing/re-designing an existing one, a Product Lifecycle Management (PLM) software is the ideal solution to speed up product development and accelerate time-to-market.

A Solution to Streamline the Product Development Process

Lascom PLM software supports businesses in efficiently managing the process of developing and launching new products. It provides a dedicated solution to assist businesses in reducing their time to market. By optimizing the process from the marketing brief to new product launch, Lascom offers an efficient solution which enhances collaboration and speed up product development:

Single repository: benefit from a single version of the truth, which will improve and facilitate communication between all departments but also with external stakeholders. Each authorized user can access the right information at the right time, using the advanced search feature.

Formulation: a user-friendly formulation tool to assist R&D teams creating new formulas while managing and automatically calculating allergens, certifications, product weight, costs, nutrition facts, etc.

Labeling: automatically generate regulatory-compliant labels with information from the single repository. This information was input from all internal and external stakeholders, from R&D, compliance, quality, marketing to suppliers, who have authorized access to the solution.

Workflows and processes: rely on Lascom workflow engine to manage both the company’s internal steps and, if necessary, the communication steps with external providers (e.g: suppliers, creative agency, etc.).

Access, in real-time, all project’s information (status, comments, deadlines, etc.) to monitor tasks’ progress. A Gantt chart is automatically displayed according to the scheduled tasks and their deadlines. However, a project manager can easily modify the planning by adding steps, deleting some tasks, etc.

Key Features to Speed Up Product Development

  • Single and secured repository or knowledge base
  • Easy briefs definition
  • Invitation to tender via a supplier portal
  • Automatically create files to avoid loss of information
  • Structured repository for advanced information search
  • Quickly notify the stakeholders of each project
  • Define response times for each task
  • Regulatory-compliant packaging and labeling tools
  • Gantt chart

Benefits

Reduce time
to market

Enhance team
collaboration

Track project
progress

Analyse results
with dashboards

Success Stories

  • Bolthouse Farms

    Bolthouse Farms

    Bolthouse Farms is North America’s market share leader in growing and distributing fresh-cut carrots and offers ‘all things carrot’, including... Read more »
    Read more
  • Maple Lodge

    Maple Lodge

    Maple Lodge Farms increases productivity, shortens product development cycles, and reduces risk with Lascom CPG Solution Maple Lodge Farms (MLF)... Read more »
    Read more
  • Poultry leader

    Poultry leader

    France’s largest chicken products and chicken based products processor and distributor, employs more than 16 000 people all around the... Read more »
    Read more
  • Artenay Bars

    Artenay Bars

    Artenay Bars is the leading French manufacturer of cereal bars and muesli in the private label market. The company has an... Read more »
    Read more
  • Yoplait

    Yoplait

    Lascom solution helps YOPLAIT achieve faster product development times Dairy manufacturer Yoplait selects Lascom's CPG Solution to reduce product development... Read more »
    Read more
  • LACTALIS

    LACTALIS

    To meet new food regulations and increase productivity CPG solution from Lascom helps Lactalis meet new food regulations and increase... Read more »
    Read more
  • Bolthouse Farms
  • Maple Lodge
  • Poultry leader
  • Artenay Bars
  • Yoplait
  • LACTALIS

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