Innovation and New Product Development: The Partnership for Lean Innovation is a collaborative support network of existing experts and resources that include “leading practitioners,” manufacturers who are already highly innovative, “thought leaders,” highly regarded individuals in the field of innovation & product development and “service providers,” local experts in various elements of product development

Course Objectives: The Lean Innovation Workshop covers the importance of selecting the right ideas, the “What to Develop”, as well as techniques to become more efficient at bringing those ideas to market, the “How to Develop.” The workshop will combine lecture, group exercises and simulations to help you better understand the NPD process, the skills required to be successful and how your company’s current capabilities compare to best in class firms.

Benefits Lean Innovation incorporates Lean methods and tools to create new products and innovative ideas in less time, and with greater chance for success in the market. Market research conducted by TechSolve and the Product Development and Management Association (PDMA) has helped the Partnership establish these goals for Lean Innovation:

• 50% reduction in time to market
• 50% improvement in project success rates
• 100% improvement in first-to-market innovation

Course Description

• Day One: Business Process/Tools
• Developing a Business Strategy by Implementing Technology Roadmaps, Identifying Core Competencies and Establishing Market Segments.
• The Five Steps to Creating a Lean Product Development Process.
• How to Maximize Value and Achieve High Project Throughput Using Portfolio and Resource Management
• Learn key elements of VALUE portfolio management: maximization, balance & strategic fit
• Create a “PULL” system for projects that reduces queues and optimizes development batch sizes, rather than starting all your projects ASAP
• Day Two: Innovation

The Systematic Invenitve Thinking (SIT) method for New Product Development is a combination of principles and tools developed to help companies identify opportunities in their field utilizing existing company resources with minimal investments.