Key Metrics for Monitoring New Product Development
Source:
IDe (Integrated Development Enterprise)
Document Type:
White Paper
Since our research-driven beginnings, Johnson & Johnson Advanced Sterilization Products (ASP) has continually improved the new product development (NPD) process. Detailed process mapping has revealed three tiers of business metrics, starting with drivers and moving up through execution metrics to business performance metrics. When driver metrics improves, so does business performance. Six Sigma tools helps identify specific metrics at all tiers and the causality linkages among them. Each NPD process step at ASP results in a deliverable, and each deliverable relates to a trade-off triangle (cost-time-resources) and, ultimately, to investment dollars. To track performance, ASP calculates how actual NPD decisions and what-if scenarios affect deliverables, alter investment triangles, and thereby influence business results. ASP uses similar process and tools, including the investment triangles and Six Sigma QFD, to make idea management decisions. The IDweb real-time software environment enables both the NPD and idea management processes at ASP. By deploying the strategic planning, idea management, portfolio and pipeline management, process management, and resource management modules of IDweb, ASP has increased throughput by 20 percent and reduced cycle time by 40 percent.
