Summary
Enable a consistent and efficient execution of the innovation process across organizational units to reach key goals like cycle time reduction and better predictability of time-to-market. Establish appropriate process governance.
Organization Background
In successfully operating at a global level, this Biotechnology Company recognized their New Product Development process as an essential aspect for continuing the organization’s innovation and growth. Consistent product development was key to enable efficiency and agility in bringing new products to market. The organization began initiatives in defining these business processes, but only limited progress was made, and they still did not have a clearly defined innovation process.
Business Challenges and Opportunities
Bringing new products to market involves the innovation process touching on various functional areas within the organization, including Marketing, R&D, Finance, and Operations. To reduce bottlenecks and overall cycle time, the new innovation process must enable efficient coordination across these functional areas. The process should be broken out into clearly defined phases to improve predictability of time-to-market. By clearly documenting the innovation process, the company hopes to develop the transparency necessary to establish appropriate process governance.
However, the organization realized that they lacked the capabilities to properly analyze their as-is processes and identify improvement opportunities within a reasonable timeframe due to the complexity of their organization’s processes. The BPM-D team was asked to assist in developing the Biotechnology Company’s New Product Development process models.
Results
The completed project provided the client with an end-to-end innovation process which clearly outlines the key steps and hand-offs required to efficiently launch new products to market.
- Captured 14 New Product Development As is processes, identified 44 pain points, 19 improvement opportunities and 36+ action items.
- Identified challenges within the earlier as is processes, such as data redundancy, inconsistent terminology, and missing formalization.
- Established a uniform collaboration hub, facilitating high visibility, transparency, product relevance, and delivered a platform for more structured idea finding.
- Established common & intuitive language within as is processes for easy consumption of process details.
- Identified areas for improvement within core business processes, targeting increased business value predictability of product time to market.
- Defined a value realization roadmap that identifies and implement s high reward, low effort process improvement opportunities to deliver value through Rapid Process Improvement.
- Generated process handbook with detailed reports of end-to-end process performance.
