Innovation is very difficult to measure with a single “yardstick”. One of the most popular measures of innovation is a variable measure, “Percent of Revenue from New Products.” This measure is often reported both internally and externally. It is an appealing measure because it is quantitative and it
New Product Development
Warehousing item that is unique because of some characteristic (such as brand, size, color, model) and must be stored and accounted for separate from other items. Each SKU is assigned a unique identification number (inventory or stock number). New Product Development projects often add SKUs to existing product inventories by
Systems used to collect, organize, report, and distribute organizational data and transform that data into critical information and knowledge. ERP Systems are used to help organize data, especially supply and demand data and sales forecasts, for New Product Development (NPD). Learn more about using ERP data within the framework of
A new idea, method, or device. The act of creating a new product or process. The act includes invention as well as the work required to bring an idea or concept into final form. Innovation is sometimes described as the generation and/or acceptance of ideas, processes, products and service
A disciplined and defined set of tasks and steps that describe the normal means by which a company repetitively converts embryonic ideas into salable products or services. Read more about Effective NPD Processes and Effective Early Stage NPD Processes. Learn more NPD definitions and terms here.
The overall process of strategy, organization, concept generation, product and marketing plan creation and evaluation, and commercialization of a New Product. Sometimes referred to only as “Product Development.” Find more definitions of New Product Development (NPD) terms here.
I have a Dilbert™ calendar on my breakfast table. It certainly helps to understand that other people can feel what we go through everyday in corporate life! And reading Dilbert everyday fulfills one of my important philosophies in life – You should laugh everyday! The 2010 Dilbert calendar has added