Friday, March 31, 2017

Innovation and New Product Development in Food and Cosmetics industries

As “Le Figaro” mentions in its revue, in a stagnating market fragilized by price war (rates have decreased by 1.2% in 2015), industrials and distributors bet on new products to relaunch sales and straighten their margins. 2200 innovations have been introduced in 2016 during de SIAL, which represents an increase of 24% of the number of new products compared to 2014.
In this article, Robert Brands states that the development of new products can be divided into 8 main steps:
  • The SWOT analysis (Strengths, Weaknesses, Opportunities, Threatens);
  • Ideas production;
  • Concept test;
  • Market research;
  • Beta version tests (lab trials);
  • Industrialization and product development;
  • Commercialization;
  • Adjustments after the product launch (continuous improvement and adjustment of the price)
A similar approach is presented by the Conference Board in Canada.
Thanks to beCPG software, we’re going to see how you can manage your innovation approach, notably the development of new products and new packaging in Food and Cosmetics industries.

Why resorting to project management?
Project management allows managing many aspects of the project:
  • Scheduling;
  • Role and responsibility of each project speaker;
  • Documents as brief marketing, formulations, technical sheets, trial results, artwork;
  • Budget
Schedule
The schedule allows the definition of the project tasks by decomposing each of the phases in tasks and subtasks so that a visual representation of the project structure is possible (WBS: Work Breakdown Structure). It allows to communicate to each team member the goals and the roles of everyone. Thus, everybody is on the same page.

When a task starts, its actor is notified by workflow and by email with a description of what he has to do and with links to deliverables he has to achieve. These workflows are configurable without development by the project manager.

Project evaluation (SWOT)
Each project is evaluated according to criteria defined by the project manager.

Formulation and technical sheets generation
The beCPG software supplies a formulation module to calculate allergens, ingredients, nutrients, costs and allegations of the product from its recipe.

As soon as regulatory data and costs are calculated by beCPG, technical sheets are generated automatically, for example, le technical sheet for the client and the factory sheet.

Document management
Document management allows the storage of all the documents linked to the project: brief marketing, formulations, technical sheets, trial results, ready for printings and so on. Documents are classified as folders and subfolders according to the record classification determined by the project manager.

Users can consult easily the documents thanks to the inline preview and they can edit them in Microsoft Office or Google Docs. As soon as a document is modified, the previous version is archived in the versions history which enable to have a complete traceability of the modifications (who modified the document, when, why).

Different views permit to view a document.


To save some time during the creation of a project, it’s possible to create project templates to initialize the schedule and the record classification plan.
Budget
The project manager has to keep in mind the budget allocated to his project. For that purpose, he can define the project forecast budget, expenses, incomes and follow the real budget.
Research
One of the most encountered problem for the users is the search of the documents. For that purpose, the research provides the preview of the documents. This latter allows the search into document’s metadata and into the document’s content (for example, in the text of a contract). The user doesn't have to know the location of each document he’s searching for.

Activities
The activities follow-up allows to check easily the activity on a project (comments, documents modifications, change of tasks states and so on).


Project overview
The page project overview displays projects with current tasks, overdue, score, completion, products created, last comment, start and end dates. It allows project managers to track their projects during the review of project. From this page, you can filter your projects and export them in excel.



2 comments:

  1. New Product Development is a broad topic which contain a package of strategy, ideas and responsibility. It is not a easy task but after initiating proper process and steps, success is sure... We at our organization works with first time right
    methodology in order to have a successful entry in Market.

    Six Sigma Certification | NPD

    ReplyDelete
  2. You are right, methodology is very important for NPD.
    Do you use a software to implement the NPD ?

    ReplyDelete