Product Lifecycle Management: defining products & offerings

Product Lifecycle Management

Product Lifecycle Management is a cross functional, integrated system the purpose of which is to understand fully, the lifecycle stage and maturity of the products and services being offered by the organisation.

Essentially, it is how new business is developed, introduced, managed and retired within the organisation.

How will this be achieved?

  • Create a process that is capable of developing, introducing, managing and retiring products and offerings.
  • Fully understand current needs of existing and potential customer groups, in both terms of service and quantity.
  • Fully understand the current condition of assets and their capability to deliver the required customer satisfaction.

Why would you do this?

  • Optimise the performance and investment around products enabling customer satisfaction realising maximum profit.
product lifecycle management graph
product lifecycle management

Improving New Product Introduction (NPI) at Meat co.

90% of launches within specified KPI’s, 25% reduction in time to launch, 10% increase in capacity (number of projects per R&D head) and a 6% reduction in dormant projects. To read the full list of benefits view the case study

Improving New Product Introduction (NPI) at Pet Food Co.

This case study highlights a 40% reduction in artwork origination costs (€250k), a reduction in product obsolescence per launch (generating savings of around €50k per launch) and projects delivered against customer required launch dates.

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