Reconsidering the way in which products are designed helps industrial companies reduce development costs, improve time-to-market, and offer customization options that fully match evolving client requirements.
There are four main driving forces in rethinking product development models: processes, tools, organizations, and competencies. In particular, industrial companies have now recognized the full benefits of platforming strategies, which build on a modular approach to product development and encourage the use of shared subsystems or building blocks. Such an approach generally requires an in-depth transformation of a company’s product development teams, a careful review of required competencies and embracing new digitalization opportunities.
By leveraging all these aspects, AVENCORE’s support and guidance on such projects help industrial companies typically generate 15% cost reduction and improve time-to-market by 30%.