In the course of increasing dynamics on global markets and technological disruptions, Product and Portfolio Management faces diverse challenges and opportunities as the interface between market knowledge and technological expertise.
Targeting at a comprehensive exploration of this topic, an international benchmarking study was conducted by the Complexity Management Academy and RWTH Aachen University (WZL) in cooperation with an industrial consortium consisting of Diehl Metering, Kion Group, Peri, Rittal, Schaeffler, Thyssen Krupp and Wago.
The study aimed at a comprehensive elaboration of successful and sustainable approaches within the main functions of Product and Portfolio Management in industrial practice:
Based on an effective Market Intelligence, relevant market and competitive information was gathered to be translated into product ideas. Product ideas were subsequently being evaluated with respect to economic and technical performance indicators before New Product Development was initiated. During the whole life cycle, single products as well as diverse portfolios were continuously being controlled and optimized as part of the Lifecycle Management. Since IT-Tools are increasingly being utilized in the environment of Product and Portfolio Management, successful approaches in this regard will equally be considered as practical types of Organizational Implementation.
The benchmarking study is designed in three phases over 10 months. During the initial Screening phase data is captured in a global context based on the questionnaire. As part of the Evaluation phase, the returns are analyzed while all participants are provided with an individual positioning within the overall study results. In collaboration with our industrial and scientific expert network promising approaches are further analyzed by case studies with the respective participants of the study. According to the overall motto “Learn from the best”, best practices are shared across the successful practice companies and the consortium in the course of five Company Visits.
Which are state of the art methods, enabling a professional Product and Portfolio Management in terms of systematically utilizing data from markets and customers to establish a comprehensive Market Intelligence?
How can Product and Portfolio Management efficiently and effectively participate in prioritization, planning and execution of product development projects?
What are best practices in successfully managing and optimizing single products as well as diverse portfolios throughout the whole life cycle?
Which are state of the art IT-Tools, facilitating product managers‘ daily work in terms of gathering, analyzing and presenting product and market related information?
Which forms of organizational structure have proven success in industrial practice and which skills are required to establish a sustainable Product and Portfolio Management?