Should Time-to-Market Be The Goal of New Product Development (NPD)?

Time to marketIf there is one universal desire of every senior manager responsible for the financial performance of any company, it might just be: “We need to get products to market faster!” It is perfectly understandable. Most companies rely on new products to help drive revenue and earnings growth, and what better way to improve financial performance than to get more new products, and faster? But is that always the best strategy? Many companies emphasize time-to-market, or cycle-time, at the expense of every other NPD goal. Much of the popular NPD literature has done a good job selling this as the goal of NPD, but there is a growing body of evidence that questions the link between this strategy and firm performance. Continue reading