A company's leadership is often challenged to make forward-looking decisions regarding new product development without the critical information they need. In their quest to develop innovative new products and bring them to market quickly, enterprises must collaborate with suppliers to understand evolving customer needs, emerging technologies and potential risks and planning gaps.
Many companies lack in-depth information on customer needs, technology readiness levels, and product requirements, according to a recent study by Deloitte Consulting. Yet, this information is needed to effectively plan for future products. According to Deloitte innovation consultants, enterprises must work closely with suppliers and exchange real-time planning information if they are to be successful in bringing new products to market.
To collaborate with customers and exchange real-time strategic planning information, enterprises are using roadmaps across their organization. A "roadmap" is a document that graphically depicts an extended view into the future and visualizes the strengths and dependencies of an opportunity over time. Using roadmaps facilitates the rapid capture, organization and network-wide dissemination of supplier roadmaps, allowing stakeholders to collaborate in real time.
Roadmaps examine the big picture at a fine level of detail so key players can view important information in real time.
According to Bill Poston, innovation management consultant for Kalypso Partners, "more and more companies are turning to their suppliers for product and technology innovation to provide them with a competitive edge. While the multi-tiered supply chain is well understood, the formal inclusion of suppliers in the innovation and product development process is often overlooked. By using roadmaps to develop a structured network for sharing information, companies can utilize their suppliers to create innovative new products."
Roadmaps examine the big picture at a fine level of detail so key players can view important information in real time. Roadmapping also allows companies and suppliers to identify potential gaps or opportunities that result from project interdependencies. For example, if a change occurs in the network, members can trace its ripple effects and make immediate changes to ensure on-time fulfillment for products that would have been adversely affected.
Using roadmapping software helps enterprise planners to gain visibility to planning information that exists beyond the company firewall. Product planners can link dynamic information such as competitor activity, funding status, and supplier technology capabilities to collaboration with suppliers on future offerings.
Roadmapping also improves the quality of information gathered, reducing errors in the planning process and eliminating product delays due to supplier or partner miscommunication. Take the case of a leading Aerospace & Defense company that was able to identify a supplier technology that would soon become obsolete.
By identifying the business impact of technology obsolescence early in the planning process, the company was able to modify product requirements and ensure on-time fulfillment for 40 key projects. This visibility into suppliers' technology plans saved the company millions of dollars in product costs.
In another case, a global communications company was able to save $100 million by halting development of an embedded chip that would become obsolete. By sharing strategic roadmaps across distributed teams and with their suppliers, the company was able to gain visibility into a crucial supplier change that would negatively impact their product planning.
Companies that roadmap can capture value from the innovations of their suppliers and partners. Leveraging this information creates a win-win opportunity for all parties, enabling companies to become more successful in developing products and technologies that are delivered to market
