In today’s fast-paced economy, companies have no choice but to innovate effectively and efficiently.
How do companies decide which products to develop? Do they use fact-based decisions supported by reliable data to make strategic R&D investments that connect business objectives with product lifecycle management (PLM), and eventual execution?
There is a gap between strategic planning and execution which has both top- and bottom-line impacts. Various research shows that many companies have a chasm in alignment between strategies and execution, leading to the high failure rate of new products introduced every year.
When this alignment is done successfully, it creates more clarity on what mix of actions will help a company achieve its strategic goals.
In this whitepaper, you will learn more about how you can do this in your company and how Enterprise Innovation Management (EIM) solutions supplement Product Lifecycle Management (PLM), Project and Portfolio Management (PPM), ERP, Supply Chain (SCM) and other solutions to strategically align and execute these critical business decision-making processes. Examples of how companies such as Corning, BASF, and Parker Hannifin have accomplished this are included in the whitepaper.