Approximately 37% of all new product launches fail, making the understanding of why they fail imperative to reducing risk and improving organizational strategy.
Talented product designers and engineers today do a wonderful job painstakingly uncovering customer needs by spending countless hours interviewing potential customers about their biggest pains. Tech entrepreneurs then successfully develop painkiller products that address these customers’ needs.
Until recently I would have cringed seeing the word “Disruptive” anywhere near “Supply Chain.” This pause for concern is a result of the now common industry phase “Supply Chain Disruption” which is utilized to describe everything from a localized component supply disruption to a global supply disruption with multiple suppliers due to a natural disaster.
We are fortunate to work with some of the most innovative OEMs, Tier Is/IIs/IIIs and Aftermarket companies in the world and have launched supply chain operations in the US and EU that have included everything from carbon fiber wheels to electric vehicles.
The golden age of software technology may soon collide with the future of efficient manufacturing. Additive manufacturing and 3D printing processes are now carving a niche by integrating computer programming and CAD with component manufacturing. According to the data from research firm Canalys, the 3D printing industry is forecasted to grow by 56 percent to $5.2 billion in 2015 and quadruple in growth over the next five years.
Supply Chain professionals at early stage ventures and high growth technology companies face unique challenges compared to their peers at large, established Fortune 1000 companies. It is true that many of the same best practices apply but it is often the application of these best practices where many professionals stumble.
This past week I was honored to share the IndustryStar story and many technology product commercialization lessons learned with a group of University of Michigan MBA students in Professor Jim Price’s Entrepreneurship New Venture Creation class. Included are the Top 3 lessons we shared on technology product commercialization.
Actionable insights from IndustryStar on ways to expedite, optimize, and de-risk your supply chain operations.