Key Drivers of Reduced Cycle Time

Abstract

OVERVIEW:This study demonstrates that short cycle times can be achieved while enhancing the effectiveness and quality of new products. Companies operating on short cycle times were found to extensively involve customers and suppliers in their new product R&D processes, adopt a product design philosophy that encourages the development of future innovations at low cost, incorporate manufacturing concerns at the design stage, test new products in user facilities during their development, and have well-developed procedures for transferring learning from one project to another. Short-cycle-time companies were also more profitable than longer-cycle-time companies and exhibited new product success rates above their industry averages, thus demonstrating that short-cycle-time management pays off on the bottom line.

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