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Building Products Manufacturer

Accelerating Innovation and time of products to market

To create a step change in the innovation culture throughout the business leading to 'right first time' product development and a greater impact of new products to turnover and profitability.

Brief:

This market leading building products manufacture supplied products via distributors.  The current culture of the company was one of 'over the wall development' (in other words we make it,you sell it) with the result of no ownership once the product failed in the market place.  Team working was non-existent and project management was a by-word.  Products were late and invariably did not produce the profit margins expected.

Company Profile:

The Board was sold on the importance of innovation as a driver to the business and the impact that a clear innovation strategy would have on margins and profitability.

From this base a number of cross functional teams were created to ensure that all aspects of the business had a say in the development of a new product.  This core team developed the innovation process by critiquing the existing process and creating achievable solutions to speed the process up.   Suppliers were brought in at an earlier phase of the design process to aid the development of the new product.  Concepts were prototyped and discussed with key clients before the tooling was procured.

Report:

  • Time to market for products was reduced by 40% from 14 months to an average of 8 months.
  • New service initiatives were introduced (innovation culture fostered new ideas).
  • Customer loyalty and satisfaction increased through their involvement in the product definition and design phases.
  • Ideas culture was enhanced through the creation of a central database which collected ideas from all over the company and provided a means for 'sifting' ideas against the business strategic objectives.
  • A rewards and recognition policy was put into place to cater for those ideas that had the biggest impact on the customers activities or the profitability of the company.
  • IBM benchmark rated the company in the World Class bracket for Innovation.
  • Project management skills greatly improved throughout the company reducing cost overuns and bringing products to the market place on time.

 

Benefits to the business:

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