New Product Development: Lead Time Reduction
>75% reduction in new product development time to market vs historical NPD timescales following 3 month project
Research and Development for a global chemical business
Substantial reduction in the lead time from laboratory concept to viable product ready for commercial launch
3 months, 2 consultants
- >75% reduction in NPD time to market vs typical historical development timeline following 3 month project
Why was Chartwell brought on board?
With significant internation competition entering the marketpace, this client was under significant pressure to release a new product into the market.
Historical NPD timelines of over 5 years were not acceptable in this case due to the market pressure, and there were insufficient internal resources to deliver this project in the timeframe required using the standard product development approach.
A different, fast track, multi-functional, approach was therefore required, Chartwell was brought in to support this effort.
“The work involved a focussed study on a complex project, exploring various technology options and selecting which to progress. The input from the Chartwell team was invaluable and a very significant contributing factor to the progress made.” - R&D Director
Chartwell worked with this client to develop a new "Fast Track" process, delivering the following:
Process time reductions
- Using Chartwell's cycle time reduction methodology, the team reviewed the longest lead time processes contributing to historical lead times.
- Working closely with process experts and regulatory experts, the team challenged these processes and successfully delivered substantial reductions in test sample preparation time and in in chemist paperwork and administration
- As well as reviewing administrative processes, the team also worked to develop more streamlined testing methods - gathering all the relevant data in the shortest possible time.
- The team developed new screening test methods, and reducing waiting times during a number of tests.
In a process like NPD with many stakeholders across several departments, it is critical to have regular communication plaforms and highly effective program management. To ensure this was occurring, the team set up:
- Cross-functional reviews engaging key team members from all relevant departments
- Proactive communication channels
- Effective project management tools and structures, to give visibility at all times on current progress and roadblocks.