"We engaged KMC to assist us in several critical areas including Product Development and Innovation process improvement. KMC did an excellent job assessing the problems at Watermark and developing sustainable solutions. After 5 years, the process changes implemented are still in use-a true indicator of the success and sustainability of results. The company is benefitting from those improvements today in improved profitability and operational efficiency."
— Thomas Fumarelli, COO, Watermark Paddlesports, Inc
Challenge:
A designer and manufacturer of specialty auto roof racking systems and personal watercraft needed to develop more effective processes to translate product develop priorities into on-time and on-budget product programs, to accurately assess and prioritize multiple program opportunities in order to maximize new product revenue and profits, and build a more 'market-centered' development approach focused on customer needs.
Solution:
The KMC team partnered with key business and product development leadership to institute a multi-step product development action agenda, aligned the business on common product leadership goals, created and implemented tools to better manage the product portfolio, imbedded an 'innovation' component into the product development process, and tightened overall product development process discipline. The team also addressed important organization and management needs to ensure effective implementation and execution.
Results:
- Rapid streamlining of the development pipeline with focus on the highest return programs across key market, customer and financial dimensions.
- Developed a product development scorecard segmenting all product program opportunities into four categories: industry changing, market changing, sustaining, and maintaining.
- Developed tools and process for leadership to manage the overall product development process.
