Product Lifecycle Management
GenSight supports the strategic management of products through all stages of the lifecycle, including new product planning and development, market introduction, sales and profit maximization, refresh and withdrawal. The Product Lifecycle Management methodology integrates strategic and financial analysis to identify attractive market opportunities and prioritize resource allocation across the portfolio of existing and new products.
GenSight provides a firm basis for decisions about allocating resources and marketing spend across existing products, as well as prioritizing and phasing the investment in product development and new product introduction. These decisions are critical to market leadership, and indeed survival, yet the decisions are complex and must be based upon objective and rigorous processes.
- Strategic Planning – Assess the impact/probability of new innovations on future competitive position, and simulate scenarios to understand strategic options.
- Focus Innovation – Align Research and Development activities to the most important product/market opportunities to ensure clear and objective priorities.
- Accelerate New Product Development – Stage and Gate based prioritization and approval processes ensure resources are clearly allocated to the best projects, and that poor projects are quickly dropped from the development funnel.
- Align the Product Development Portfolio – Ensure the portfolio has the right balance of investment across:
- Products, technologies and markets (new and existing)
- Customer segments and regions
- Innovation Level, Project Stage, Timing and Risk
- Business Unit
- Collaborate on Projects – Share development projects across divisions, regions and operating groups using a standard enterprise-wide process and system.
GenSight is the most comprehensive solution available to address the combined processes of: (i) Lifecycle and Portfolio Management of existing products based on strategic, operational and financial objectives, and (ii) Project Management and Prioritization of development projects to extend, grow and defend the product line-up.
The GenSight software brings a unique interactive capability to thoroughly explore each products strategic position, and to identify options and gaps. Complex issues can be visualized from many different perspectives and at many different levels. Powerful slice-and-dice analysis features provide a breakthrough diagnostic capability to view linked product and project portfolios over time, by market, by segment, competitor…
The result is that growth estimates, P&L forecasts and budgets have a more solid foundation, with greater consistency, rigor and transparency of strategic thought. Investment decisions can be made with more confidence.