Hopes for an economic recovery combined with fears of a double dip recession have made for an extremely challenging environment for any company trying to bring new products to market. With so much uncertainty, companies must be quicker than ever to respond to ever changing market needs.
With that in mind, it is not too surprising that Aberdeen’s 2010 Q4 Business Review found that improving business execution is the top strategy for 48% of manufacturers to achieve their goals of revenue and profitability growth. The challenge of improving business execution is that sometimes you are too close to the existing processes to see where the opportunities for improvement are. A fresh perspective is often very useful to bring in new insights.
Aberdeen’s March 2011 Project Portfolio Management: Selecting the Right Projects for Optimal Investment Opportunity study provides further insight into why improving business execution is difficult. Managers involved with new product development reported that balancing resources is the top challenge of managing their project portfolios. Clearly, the recession of the last few years has left many organizations even more resource constrained than before, making it difficult to respond quickly to ever changing market needs, hurting the ability to improve business execution.
The story of how one company is addressing this is the topic of an upcoming presentation by Carmen Malangone at Coty Inc at the 2011 Aberdeen Product Development and Delivery Summit. Carmen is the Global Solution Designer at Coty and his talk, When Innovate or Die Is Critical: Using Information Systems to Advance Business Projects will share the journey that Coty has taken to use technology tools such as Product Lifecycle Management (PLM) to enable greater innovation within a resource constrained environment.
In addition to Carmen’s talk, Aberdeen’s Product Development and Delivery Summit will feature many other great stories around the themes innovate, develop, deliver to offer a fresh perspective and share ideas to help you help your company bring new, innovative products to market in ways that will help your company achieve its revenue and profitability goals.
The Summit is an intimate networking symposium for executives to share best-practices and strategies for success. The event is reserved exclusively for senior-level innovation, engineering, product development, R&D and technology executives and all of the speakers are actual practitioners, not vendors or consultants. It will be held on October 5th, in Boston, at the Seaport Hotel next to the World Trade Center and there is no cost to register for qualified executives.
I hope you can join us!