Insight and BD Presented to Joint PDMA/IDSA/ASME Meeting
September 14, 2009 – Chris Yahnker and Roy Attride from Insight Product Development and Tim Sullivan, Ph.D from BD presented to about 40 people from the Carolina chapters of PDMA, IDSA and ASME on the topic of accelerating product development. The presentation was September 9th at the John Deere facility in Cary, North Carolina.
The presenters started by asking the audience when it is a good time to develop a new product. They heard a smattering of answers, but the presenters had only one answer to the question: "Always!" While there are many companies that halt new product development in a soft economy, the presenters emphasized the importance of investing in product development over the long haul.
"The truth is investing in new products is just like investing in the stock market. You have to be in it for the long haul," Yahnker told the audience. "To have long term success and to survive in today's marketplace, you continually need to have new products in the pipeline."
The presenters recognized some of the risks associated with new product development, and offered steps to avoid some of the pitfalls, perhaps the most important being a robust innovation and product development process.
"Developing new products is risky. But with a solid development process you can minimize the risk, accelerate your time to market, and quickly realize a return on your investment," said Attride.
Sullivan from BD concluded the presentation with an in-depth case study on how their company was able to bring a product to market successfully and quickly.
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