A recent virtual series, The Consumer Goods Innovation Exchange, brought together innovation and new product development professionals from leading consumer goods firms such as PepsiCo and Kimberly Clark to share their stories of success and lessons learned in their journey to transform the innovation process. This knowledge sharing series centered on three key challenges articulated over and over again from organizations around the globe – how can we improve the execution and adoption of processes, drive the effectiveness of gate meetings and support growth through globalization of innovation. Across these sessions, over 200 professionals logged on from over 20 countries to gain insight and practical lessons from their peers while comparing their own practices to those of leading companies.
Before each session began, registrants had the opportunity to shape the discussion and pinpoint where they feel the most challenge and pain in their journey towards improving innovation performance. Less than a quarter of respondents claimed to have a well-defined and adhered to innovation and new product development process. The below infographic is an illustration of this startling fact and more of the input we received from our global group of innovation professionals that registered throughout the series, and provides a great opportunity for you to benchmark your own challenges against your peers.