Time to market (TTM): It’s importance & 3 ways to improve it
To sell any new product, there are two things you must consider. One is the demand, and the other is the right time to sell. Fabricating a product becomes unnecessary if the product does not reach the end user at the right time. So why does a survey say that over 45% of product launches are delayed by at least a month? This generally occurs because it is difficult to organise everything to ensure the product reaches the market on time. So, let’s take a look at 5 easy ways to improve time to market in manufacturing.
Top 3 ways to improve time to market in manufacturing
- Streamline the process
Learning about everything that goes into the making of your product and sending it to the market is essential. This way, you are able to understand every little thing that is required to make the product available to the public. Based on this, you must start implementing changes wherever they are required. It also allows you to visualise the procedure and have a clear idea of how things are supposed to work for optimal manufacturing setup.
- Set KPIs & goals
Properly understanding your project’s requirements is key. Finding the end goal and keeping it in mind throughout the production procedure are pertinent to the success of the project. But is that enough? It actually isn’t! The main reason many companies fail to deliver the product on time is that they set goals that are ideal in theory but impossible to achieve in the real world. Therefore, setting goals and KPIs that are achievable is essential to TTM.
- Create an active workflow
The only way to stay ahead of everything is by maintaining a clear and transparent view of what you need. This is why everything done from the bottom level to the top must be documented, timed, and monitored. By doing so, you are ensuring free flow of information and creating an environment for the management to get live updates and a clear view of how and what is being done.
The end goal every manufacturer has is to provide quality products that fully satisfy a user. This is why many manufacturers these days focus on time to market (TTM). Even at Radiant Appliances & Electronics, we ensure to follow TTM. Which is why all our customers are extremely satisfied with our products and their delivery. You can also get your products manufactured today with the help of our wonderful team, which has over 25 years of experience in the manufacturing industry. To know more about such industry-related topics, visit our website now!
