R&D transformation: Re-tooling the product innovation engine

A unique set of circumstances is making consumer product innovation challenging:

• Life cycles are becoming increasingly compressed

• Digitally savvy and sophisticated consumers are demanding greener, more functional, more cost-effective and more personalized products

• CPG companies are expanding into new geographic markets, resulting in new consumer tastes to serve and increasing regulation

In an industry marked by tight margins, the cost burden of sub-optimal product development is significant. Equally critical are product and process innovations that reduce unit costs and increase operating efficiency. Your R&D function remains the primary engine for these types of innovation, and there are opportunities to recharge your engine by focusing on game-changing new product development. Transforming R&D in this way involves four imperatives: adopting a global/multi-local operating model; digitizing product lifecycle management; disaggregating R&D; and the continuous pursuit of operational excellence.

Read the latest insights to learn more:
How Consumer Packaged Goods Companies Can Transform R&D and Supercharge Innovation