This PPT slide, part of the 24-slide Cost Reduction Opportunities (across Value Chain) PowerPoint presentation, outlines specific opportunities within the realm of product development, particularly focusing on how R&D can enhance efficiency during economic downturns. It emphasizes that while R&D is often one of the first areas to face budget cuts, there are strategic avenues for improvement.
The first section addresses portfolio management. It suggests that decision-making at control gates can optimize the R&D pipeline by leveraging customer insights, technology insights, and business case evaluations. This integrated approach aims to refine lifecycle updates and refresh strategies, ensuring that resources are allocated effectively.
Next, operational efficiency is highlighted. The slide proposes a gate approval model that aids in justifying investment decisions. This model separates phases of innovation and product definition, which can lead to shorter development cycles and quicker time-to-market. It stresses the importance of a structured approach to product creation and technology development.
The third area discussed is modularity and common platforms. This section points out the benefits of reducing redundancy and accelerating development through modular product design. Utilizing common platforms can streamline processes, supported by effective product architecture management and enhanced information transparency.
Lastly, technology leverage is mentioned. It includes practices such as Product Lifecycle Management and Electronic Data Management, which can facilitate end-to-end product architecture and information management. The potential outcomes of these strategies are clear: reduced time-to-market and improved resource efficiency and effectiveness in R&D efforts. Overall, the slide serves as a guide for organizations looking to navigate challenges in product development while maximizing their R&D capabilities.
This slide is part of the Cost Reduction Opportunities (across Value Chain) PowerPoint presentation.
This Cost Reduction framework is created by former McKinsey, BCG, Deloitte, EY, and Capgemini consultants. It identifies over 45+ Cost Reduction initiatives mapped to the Michael Porter Value Chain.
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Value Chain Analysis Cost Reduction Assessment Cost Reduction Product Lifecycle Value Chain Data Management Business Case Portfolio Management Customer Insight Product Development Innovation
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