Product Innovation Spurring Growth in Food Manufacturing
New Product Innovation simplifies and accelerates growth potential of +38%
Our client, a market leader in the bakery products, was losing market share and dealing with a chaotic “new product innovation” (NPI) cycle that was adding complexity to the operations and sales organizations. Internally they had a reputation for doing everything and nothing.
We analyzed the NPI funnel & output over the past 5 years and tracked the revenues & ROI of each release. Comparing internal results to external third party data, we created a streamlined route to market process that would increase efficiencies, revenue, and profit. We partnered with the client to create a project team which was co-built and led by GrowthPoint.
A robust and effective NPI process is the lifeblood of any food manufacturing company as it adds revenue, profit, and shareholder value. In 6 months our client was able to streamline from 180+ “work in progress initiatives” to 6 and was able to bring 1 new product to market using the new processes.