Successful Product Life Cycle Execution requires a disciplined approach, process driven mindset and accountability for execution. This is easier said than done, and their are many companies doing a lot of talking while others execute.
Execution is the most critical ingredient to ensuring proper Product Life Cycle management. Other components which are part of the pre-planning process such as Product/Category Line Planning, Master Scheduling, Critical Path Analysis, PDCA Reporting, Market/Competitive Analysis are also crucial, but the ability to execute against your plan is integral. Once you have done your pre-line planning (i.e Styles, Price Tiers, Merchandising, etc…), developed a comprehensive Market/Industry Analysis, then a detailed Master Schedule is created. This should effectively track the progress towards the commercialization of your product.
The Master Schedule acts as barometer to gauge progress, assures proper resource allocation and in a “true” world is dependent. When dependent scheduling is mastered, the planned commercialization date is never compromised. This is crucial to proper execution, as accountability is assured and teamwork is needed. The single biggest issue facing the Product Life Cycle team is missed commercialization dates, as many departments are affected when this date is missed or is constantly being updated. As you move along the product “food chain”, if dates are missed, marketing cannot activate programs and sales can not effectively plan for seasonal presentations to key customers.
This is why I say “execution” is the “key” ingredient in the Product Life Cycle process. You can plan on paper, but unless you track to a definitive date for product line commercialization, then your ability to succeed is diminished.
Clearly define your “Product Life Cycle” process…
Track progress, and do not compromise…
Hold individuals/departments accountable…
Execute against your plan..!
Enjoy the Ride..!
Bryan Smeltzer
www. bryansmeltzer.com
“Product Innovation and Marketing Success Blog”
The author
I have a passion for living balanced life and a strong faith...each equally important for thriving and excelling…I love crushing mountain bike trails, exploring and finding ways to grow beyond the “status quo”. I am a dedicated, innovation driven team leader with a passion for establishing a disruptive vision and executing a market dominating strategy… Our industry has always been about creating innovative, market driving solutions that enhance performance or provide for a better life beyond sport. It has also been about culture, fit and passion for the brand. When these foundational pillars are removed, the brand starts to crumble. Being part of an industry that bridges talent between product creation, marketing, sales, finance and operations is formula for success, because every function is about building a foundational performance brand. It’s galvanizing when elite athletes wear and endorse our creations, but the real strength is leading the teams that combine their creative forces and technical expertise to make the engine roar. I am always passionate for defining and leading the next industry revolution… Extensive executive level experience across globally recognized brands, each number one in their respective markets, along with having founded and successfully sold my own branded apparel company. Whether establishing new product lines, building global marketing strategies, leading design/development teams, I have a passion for building and growing brands. Some examples; • Built Zamst from start up to achieving nationwide North American distribution, and 845% revenue growth over a 3 1/2 year period. • With Gathering Storm, grew TaylorMade/adidas Golf Accessories from $11M to $48M over 3 years. • K-Swiss, global executive management of $38M in international licensee’s and domestic apparel/accessories division. • OAKLEY, built and successfully developed “Athletic Division” NCAA licensed team eyewear/apparel product lines achieving $1.4M in initial season.