NPI – New Product Introduction
PLM – Product Lifecycle Management
New Product Introduction
When a company prepares to introduce a new product to the marketplace, there are many different activities that need to come together at the date of introduction.
Those activities include but are not limited to:
A marketing requirements document – this document should explain what the customer is looking for in a product.
An engineering requirements document – this document should explain what it will take to make the product function properly. It may or may not include everything in the marketing requirements document.
An engineering design – engineering must provide manufacturing with all of the information needed to manufacture the product.
A work instruction package – ideally, this is detailed instructions on how to manufacture the product.
Product pricing – what price will you place on the product?
Product placement – where and how will you sell the product?
Product packaging – what will the packaging look like?
Product promotion – what will be needed to sell the product? Will you need a logo, flyers, brochure, demonstration, web presence, social media marketing, content marketing, a show schedule, etc.
A product support plan – how will you support and maintain the product.
If you are the person in charge of this new product, how do you make sure all of these activities are completed on time? How do you ensure that all of the activities are done properly? Think of the pressure…
Product Lifecycle Management software
PLM software is designed to handle this complex project. With its workflow capabilities, it can help you control all of these activities. It makes sure that all of the required steps are taken.
PLM software provides visibility into all of the activities. You can quickly see what is completed and what is not. You can see whose desk it is on. If one activity is behind, you can throw more resources at it.
PLM software is made to manage NPI – it will save time and money. It could even help you increase revenue.
Contact me to see how PLM software could help your company with its new product introductions…