CEOs were asked to share their biggest concerns for 2019 in a recent survey of 15 CPG categories. A very common response emerged:
- 75% said speeding up product launches is critical.
- 72% anticipate increased product launches.
The fact that the response to both of these concerns is nearly identical highlights the need for new innovative ways to speed up product launches.
- Can packaging equipment suppliers be brought into the launch process sooner?
- Can packaging equipment suppliers inventory common equipment that can be set to the final size quickly?
- Are there flexible financing plans that allow the cost of equipment to be amortized from the new revenue generated from the product launch?
- Can equipment changes be made to adjust to actual consumer demand?
- Can the risk of a new product failure be managed and mitigated?
Accelerating the time to market could increase revenue faster, increase market share and enhance brand image.