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ColorMatrix – Driving Effective Innovation and New Product Development
ColorMatrix is a leading global manufacturer of liquid color and additives for plastics. Rapidly growing the company success depends on the rapid design and launch of new products developments (NPD).
A highly innovative and customer focused culture had resulted in the launch of a large number of product development programmes.
Consequently technical resources were spread very thin, priorities were unclear, and NPD projects were not being delivered effectively.
ColorMatrix required:
- Clearer development priorities driven from business and market needs
- A more structured NPD process to ensure product development projects carried out efficiently and effectively without stifling the creativity and innovation that is central to company’s success
Design and implementation of market planning process to give strategic market direction to innovation and NPD.
- Leadership workshop to select top 6 strategic NPD programmes
- Designed Stage – Gate NPD process
- Designed Tools, Templates, and Governance Process
- Trained Leadership, NPD and Market Teams in Process
- Trained R and D teams in DOE as a key product design and optimisation tool
- Much clearer focus on ‘vital few’ development priorities
- More rapid NPD and increased return on NPD investment
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