Manufacturers dedicate considerable cost and effort to New Product Introductions (NPI). Findings from LNS Research reveal “the median manufacturer invests 25 percent of its personnel in NPI and introduces a new product in an average of 24 months. Even with this substantial investment NPI often fails to deliver expected outcomes. Only 56 percent of new products meet all NPI success criteria.” Common reasons for failure are a lack of product design and development.
What can manufacturers do to increase success rates?
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TT Electronics plc (LON:TTG) is a provider of engineered electronics applications for performance-critical applications. The Company works with customers in the industrial, medical, aerospace and defence, and transportation sectors.