The economy has many businesses against the ropes, and the rest are tightening their belts in the face of uncertainty. However, you don’t need to completely halt your new product development (NPD) efforts. Here are five ways to spend less while keeping your pipeline moving.
Early stage gates in the pipeline should examine risk – technical risk, market risk, manufacturing risk, regulatory risk, supply chain risk, etc. A well managed pipeline has procedures in place to identify areas of risk and prioritize the risk for further assessment and evaluation. The process of assessing and addressing risk is an excellent, cost effective means of advancing the product pipeline in lean times.
