Jim Conroy, Vice President EMEA, Sopheon

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Grow & Prosper: Are Your Innovation Practices Inhibiting Success? …

Grow & Prosper: Are Your Innovation Practices Inhibiting Success?
Innovation and new product development are cornerstones for growth in cosmetics and personal care, and yet remain a key difficulty to most companies. Ironically, success is commonly undermined by the internal practices and processes in place. By driving innovation performance, companies can achieve new product success through:
Maintaining “enough” idea as well as “good enough” ideas at the front end for a high-value development funnel
Accelerating time-to-market and meeting targeted product launch goals
Adapting portfolios quickly to respond to changing trends and consumer needs
Improving new product investment decision-making to focus resources on the highest value brand innovations and to contain risk

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  • 1. Grow & Prosper:Are Your Innovation PracticesInhibiting Success?Jim ConroyVice President EMEA
  • 2. Key Decisions through theInnovation Lifecycle“How do weoptimize ourportfolio forachieving ourperformancegoals?”“Should this newidea/conceptbecome adevelopmentinitiative/project?”“Which strategies(segments, brand,product lines,platforms) shouldwe prioritize toachieve ourobjectives?”“Should thisinitiative/projectget funds/resourcesto move to the nextstage?”
  • 3. Meet Industry Challenges withInnovation Practices“How do we reduce risk of prestigebrands in a difficult economy?”How do we structure ourportfolio to deal withseasonal fluctuations?“How do I meet consumer demandfor sustainable and naturalingredients?”“How do we fuel a constant stream ofgood ideas?”“How can innovation drive newcategories & brands”“How do we plan strategically whenconsumer needs are constantly changing?”“How do we plan to meet our near &long-term growth objectives?”“How can we effectively plan toconsider changing regulations?”“How can we shorten developmenttimes to be first to market?”“How do we build regulations & consumertesting into the NPD process?”“How can we collaborate effectively acrossglobal & cross-functional teams?“Can we execute efficiently to meetbuyer deadlines & reduce chaos?”
  • 4. Transforming the Front End of Innovation…$20B+ Personal Care Company•Halfway to doubling number of $1B+brands•Increased value of innovation portfolio by75% within 3 years•Insight into the innovation lifecycle•Able to compare in-market results againstresearch projections•Analytics into successes & failuresResults“Accolade Idea Lab works very,very well. You have real time inputfrom more people engagedaround the globe where timedifferences make it really hard tobrainstorm, and it saves a lot oftime and travel money as you usethe tool for this purpose.”Director of Global Innovation•Not enough ideas to fuel growthobjectives•No systematic approach to developing thefront end•Lack of consumer and customer insights•No ability to analyze in-market successesChallenges
  • 5. The Key is Applying Best Practices in...Enterprise Innovation PerformanceCorporateStrategic PlansPDM SCM MRP CRM ERPEnabling Cross-FunctionalDecision-Making to Defineand Manage InnovationInvestmentsCorporateStrategic PlansExecution ActivitiesR&D Supply Chain Production Sales/Mktg FinancePDM SCM MRP CRM ERPEnterpriseInnovationPerformanceCorporateStrategic Plans
  • 6. The Key is Applying Best Practices in...Enterprise Innovation PerformanceCorporateStrategic PlansPDM SCM MRP CRM ERPEnabling Cross-FunctionalDecision-Making to Defineand Manage InnovationInvestmentsCorporateStrategic PlansInnovativeProducts &InitiativesSustainable,ProfitableRevenueGrowthExecution ActivitiesR&D Supply Chain Production Sales/Mktg FinancePDM SCM MRP CRM ERPEnterpriseInnovationPerformanceCorporateStrategic Plans
  • 7. The Key is Applying Best Practices in...Enterprise Innovation PerformanceCorporateStrategic PlansPDM SCM MRP CRM ERPEnabling Cross-FunctionalDecision-Making to Defineand Manage InnovationInvestmentsCorporateStrategic PlansInnovativeProducts &InitiativesSustainable,ProfitableRevenueGrowthEnabling Cross-FunctionalDecision-Making to Defineand Manage InnovationInvestmentsSuccess Rate = ~50-55%Value = +75%-100%~75-85%Time to Market = -15-30%Execution ActivitiesR&D Supply Chain Production Sales/Mktg FinancePDM SCM MRP CRM ERPEnterpriseInnovationPerformanceCorporateStrategic Plans
  • 8. Request a PosterA handysummary ofthe 8 leadingpractices
  • 9. Any Questions?Jim ConroyVP EMEAjim.conroy@sopheon.comJeff GomesBusiness Development Directorjeff.gomes@sopheon.com