Successful companies know how to develop technology and, with it, growth through profitable product families.
With an eye toward Voice of the Customer, Technology Development must always consider the market’s wants and needs.
As an Engineer myself, I recognize the value of pure and creative design efforts. The purest form of innovation has brought us amazing advancements.
But balance is necessary if you are sitting in a core industrial sector. You most likely are in a market segment with heavy global competition.
The key is Voice of the Customer. What does your customer want and need? Product Line Development and Technology Development must always include the customer’s input to help to optimize and shape your solution. Solutions that sell are valuable solutions.
As Director of Engineering and thereafter President of Enidine, we focused on valuable solutions for the marketplace.
Product Line part numbers (SKUs) from Standard Product Families will tend to grow if unchecked. Product Line Management should ensure that a logical set of business parameters are established to analyze when product expansion is appropriate. However, customization of products to meet specific customer requests (wants and needs) will always benefit the sale process. In many cases, the new product variation will be welcomed by other clients.
While running iPolymer, a manufacturer of High Purity Fluid Handling products, we found the spectrum of our client’s fluidic processes dictated we carry a large supporting product offering.
We frequently exploited the commonality of components within our Bills of Materials. One or two components would change to support our customer’s unique requirements.
