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GenSight® Product Lifecycle and Portfolio
Management (PLPM) enables management of a product portfolio through
all stages of the lifecycle, including new product planning and development,
market introduction, sales and profit maximization, refresh and withdrawal.
The solution integrates strategic and financial analysis to identify
the most attractive market opportunities and prioritize resource
allocation across the portfolio of existing and new products.
Product portfolio management forms the 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. Many questions need coherent answers: Which markets or businesses
are the most attractive and why? What products should you grow?
How best should you invest in R&D?
Most companies have sophisticated ERP and financial systems that
do a good job of tracking and reporting on financial and operational
measures - but they leave true market and competitive intelligence
largely unsupported. Consequently, Product Portfolio Management decisions
are frequently made on financial or operating assumptions that lack
transparent and understandable strategic analysis. Such decisions do
not get adequately challenged and consequently carry substantial hidden
risk.
Effective product lifecycle management requires the collaboration
of many individuals and teams who are often decentralized and have
their own agendas. Their knowledge, ambitions and decisions must all
be aligned with short-term financial necessities and balanced against
long-term strategic goals.
GenSight® PLPM – A Comprehensive
Business Solution
GenSight® PLPM is an integrated solution
that includes product portfolio management, strategic market
analysis, and project portfolio management. Deliverables include process
design, enterprise-wide software tools, and integration of the following
capabilities into your business environment:
Strategic Management of the Product Portfolio – To
enhance value creation:
- Identify new market opportunities
- Analyse the value drivers and competitive/market dynamics
that determine the success or failure of a product
- Objectively set and communicate product sales targets, projections
and marketing strategies in the context of overall strategic
and portfolio goals
- Identify revenue /profit gaps against targets
- Drive development activity priorities to align with product/market
portfolio objectives
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.
An Integrated System for Product, Marketing and Development
Communities
Web-based functionality for enterprise-wide use:
- Search, update and maintain all product and related project
information
- Filter, monitor and report on selected financials, strategic
analysis, budgets, progress milestones etc.
- Progress, track and approve projects through all stages
/ gates
- Automatic triggers, alerts and workflow
- Role-based views, permissions and security
The Decision Excellence® methodology embedded into the solution
ensures that you always use the right criteria to consistently prioritize – fully
configured to client requirements. Project prioritization is derived
from web-based project assessment and tracking forms that include extensive
metrics to objectively assess market opportunity, competitive advantage,
financial, risk and strategic factors. The process is linked to the
project type and stage – very early stage projects are prioritized
on a few well chosen qualitative factors, with more detailed
and extensive assessment being demanded as a project progresses.
During implementation, The GenSight Group’s consultants work
closely with the client to customize the process with specific decision-support
models underpinned by multiple weighted scorecards and clearly defined
profiling variables. We configure the GenSight® PLPM software precisely
to your requirements, as well as managing the initial import
of data. Full training and capability transfer is provided so
the solution can be managed in house.
GenSight® PLPM Benefits
GenSight® PLPM 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. GenSight® PLPM is a proven business
process that dramatically enhances ability to:
- Understand, explore and build a consensus view of the key
strategic value drivers.
- Objectively evaluate portfolio choices as the basis for
investment, product launch and withdrawal decisions.
- Make better resource allocation decisions (people and capital)
by clearly prioritising alternatives according to value creation
potential
- Provide stimulation and insight to identify appropriate
growth strategies.
With GenSight® PLPM, 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.
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 … or any other dimension.
SEE ALSO:
GenSight® solutions
for:
Software -
key features: (More>)
- Portfolio Visualization and Animation
- Multi-Dimensional Portfolio Analytics
- Criteria-Based Decision Support
- Predictive Business Modeling
- Resource Optimization
- Project Tracking and Workflow
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