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This Week in Consulting

Wednesday, January 8th 2020

Driving efficiency and Digitalization of Product Development

THIS WEEK’S MUST READ

In today’s world of rapid technological innovations, customers demand products and integrated solutions that are always up-to-date, complete with the latest designs and technologies. That shortens established product life-cycles and drives demand, not just for frequent product updates and incremental improvements but also for complete makeovers and breakthrough technology innovation.​”

Most of customers are increasingly demanding personalized products and services that are tailored to their specific requirements. What are challenges for developers and manufacturers. What will be the cost digitized product development processes?

This Week’s Must Read  is an insight piece from Pwc where the authors where the authors discuss the steps to transform a company into a digital leader in product development.

Read on to Find out More: “Digital Product Development 2025 | Dr Reinhard Geissbauer, Stefan Schrauf and Jochen-Thomas Morr, Pwc.


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THIS WEEK’S VIDEO:

Times are changing rapidly in product innovation and development. In order to cope with the challenges, companies must face the shortcomings of their traditional processes and embrace the ongoing paradigm shift.

THOUGHT LEADERSHIP

  • 5 Corporate Innovation Trends of 2019 Set to Disrupt the Business Landscape in 2020: “2020 is shaping up to be a truly generation-defining year across the spectrum – from politics, to sport, to science and beyond. I mean, we’ve got the U.S presidential elections, the Tokyo Olympics, NASA’s Mars rover mission, and even the completion of the world’s tallest building – a cavalcade of truly colossal events crammed into 12 months. What’s more, the trends shaping the corporate innovation landscape in 2020 are set to be just as earth-shaking.” This article explores the major innovation management challenges and opportunities of the corporate innovation trends that would shape 2020. | Samuel Medley, Business 2 Community
  • How Product Managers Can Identify and Plan for Technology Disruption: “Product managers can improve product life cycle management by scanning the horizon to spot truly disruptive technologies. However, there is a big difference between scanning the horizon using a mystical crystal ball and using a radar system. One portends to show you a specific future with no evidence base behind it, while the other uses a scientific approach to provide a rougher, yet more useful, picture of what objects exist in your sphere of visibility so you can plan, decide and act.” How Product managers need to be data-driven in order to separate fads from true disruptions?. | Chris Pemberton, Gartner
  • Why Companies Do “Innovation Theater” Instead of Actual Innovation?The type of disruption most companies and government agencies are facing right now is a once-in-every-few-centuries event. Disruption today is more than just changes in technology, or channel, or competitors — it’s all of them, all at once. And these forces are completely reshaping both commerce and defense.” This article is an insight into the challenges of large organizations are facing continuous disruption. | Steve Blank, HBR
  • Strategy in the face of disruption: A way forward for the North American building-products industry“Disruptive technologies, product innovation, and digitization will transform the building-products industry. Incumbents can protect themselves by transforming their thinking—and their businesses.” In this digital-dominant world here is an overview of forces that will demand innovations in materials, techniques, and even operating models and strategic considerations for industry leaders. | Feby Abraham, Jack Cahn, Brendan Fitzgerald and Ezra Greenberg, McKinsey.
  • Digital Transformation in Product Development: “Digital transformation creates significant changes for an organization’s information technology department and processes.  But it can also create the need for major changes in the management and processes of other business functions.  A truly effective transformation will impact every area of the organization.” This article considers some of the changes and their implications in different business functions and departments. | Raymond Sheen, Digital Transformation.

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