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  • Essay / The Importance of Business Innovation - 730

    Reducing the time from when the marketing campaign is defined to when the product hits store shelves is a key strategic objective (Abernathy, William and Clark, 1985). The business benefits are clear: accelerating time to market in a repeatable and consistent manner allows companies to realize profits faster, increase market share and improve their brand image. Companies are looking for ways to reduce product development time; they find the packaging design and product specification processes to be a challenge (Millson and Wilemon, Eds). For example, the process of labeling and designing packaging is often considered a slow process that can significantly improve the speed of product development and distribution (Millson and Wilemon, Eds). The packaging process requires input from multiple departments within the organization. When not properly synchronized, managing these inputs poses a burden that can delay getting a product to market. Responsibility for managing packaging design and development activities, which include campaign planning, product specifications, artwork, ingredient labeling, government compliance, barcoding and imaging brand, generally escapes the control of the packaging function (Abernathy, William and Clark, 1985). ). Identifying and seizing opportunities to reduce product time-to-market requires a well-coordinated effort that includes all