Successful implementation of Design for Six Sigma and New Product Development involves best practices in Management, Infrastructure, Teams and resources and Metrics.
In partnership with NeuraMetrics, Dr. Vinny Sastri has designed a New Product Assessment tool that enables companies to evaluate the effectiveness and long term viability of their existing product development process and identify areas for improvement. It takes into account four major factors – Management, Infrastructure, Teams/Resources and Metrics. These four factors have been established from numerous surveys and studies to be critical to the success and effectiveness of an organization’s new product development process. Management criteria include commitment, leadership and engagement. Infrastructure takes into account the existence of a corporate-wide standardized process, use of collaborative software, effective communication between functions, continuous improvement and a market focused process. The section on resources and teams deals with resource management, team effectiveness, team empowerment and skills and training. The fourth factor Metrics assesses whether an organization has appropriate quality, financial, organic growth and process effectiveness metrics.
The Opportunity Matrix (based on industry best practices) enables an organization to identify which areas of the new product development process are working well and what specific areas need improvement
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