PTC Helps Manufacturers Create and Capture Value Through Product Development

SYDNEY- 18 November 2002 - PTC, The Product Development Company, has published a detailed strategic roadmap to help manufacturing companies improve their product development process. An industry first, the roadmap assists manufacturers to create sustainable value through revenue growth and improved profitability by focusing on their products first.

According to Richard Kulkarni, Vice President, South Asia for PTC, Research reveals that 80 per cent of a product's cost is locked in during the design cycle. During the 1990s, manufacturers focused on strategic enterprise infrastructure initiatives to drive efficiency and reduce cost. Companies are now looking to product development to extend and compound those gains. With new Product Lifecycle Management (PLM) solutions and the expertise of our roadmap, those achievements are now within reach.

"PTC's new roadmap is a proven method to extract meaningful and sustainable value from the very core of manufacturing businesses superior products", he said.

According to PTC:

Manufacturing companies are under relentless pressure to stimulate top line growth and manage bottom line profitability. There is a growing number of companies taking a new approach to driving value: they are getting back to basics and focusing on the products. Companies have already slashed budgets and squeezed spending - cost-cutting is not the way out of this global economic recession

Businesses need a clear actionable way to get back to what matters most - developing great products - and capturing the value they create.

Introducing the Product First Product Roadmap:

Based on extensive research, work with current customers and partners, and 17 years of experience helping more than 33,000 companies worldwide, PTC developed "The Way To Product First: A Roadmap for Creating And Capturing Value."

"For the first time, non-engineering executives can gain a solid understanding of the product development process and how it can be used at the strategic level. Our approach lets companies evaluate opportunities, review the business initiatives required to take advantage of those opportunities, determine what capabilities are required and what specific solutions and services are needed to achieve their goals," said Richard Kulkarni.

How the Roadmap works

The roadmap identifies nine major opportunities that companies can use to create value in the product development process. Some areas are focused on generating top-line revenue. These include:

1. protecting product positioning
2. growing market share with customer-focused products
3. improving ability to fulfil demand
4. designing for ongoing revenue streams
5. developing and defining new markets.

Other value opportunities focus on strengthening profitability and include:

6. lowering product costs
7. lowering development costs
8. improving asset utilisation.
9. Designing to realise a price premium which addresses both growth and profitability.

Based on its strategic direction, a company can choose to pursue any number of these value opportunities. The roadmap guides them in determining which strategies and business initiatives they should follow. Then, the roadmap details which specific business competencies and infrastructure requirements will best achieve the desired results.

Typically, a company will focus on and select two or three of the value opportunities most closely aligned with its strategic goals. The roadmap allows the company to see all of the potential interdependencies and tradeoffs that exist between and among the various opportunities.

Companies including Hewlett Packard, Harley Davidson, Cannondale, Samsung and Segway have successfully used the opportunities inherent in the product development process to gain competitive advantage and market share, create new revenue streams, reduce costs and create sustainable value for their customers and shareholders.

PTC is supporting "The Way To Product First" roadmap initiative with a broad product development ecosystem of strategic partners including system integrators Accenture, BearingPoint, Cap Gemini Ernst and Young, CSC, Deloitte, Hewlett-Packard Consulting, and Lockheed Martin; leading technology vendors like Hewlett-Packard, Sun Microsystems, Intel, Siebel Systems and TIBCO Software, as well as numerous resellers.

PTC is also introducing "The Way To Product First" Roadmap in multiple forms, a physical Roadmap, a booklet series and, on its web site, http://www.ptc.com, with an online tool that enables visitors to match their product development needs with specific value opportunities and business initiatives.

 

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