Launching new products is critical to the success of manufacturers trying to grow revenue, increase profits and improve their position in the market. However, industry research shows that over 40% of New Product Introductions (NPI) fail to meet business objectives.

Procurement plays an immensely important but often underappreciated role in launching new products. They can help solve significant challenges that impact success, such as:

  • Product costs above plan
  • Late product launches
  • Lack of robust supplier assessments
  • Inventory shortages
  • Product quality issues
  • Missing innovation and differentiation

Download this paper to learn how Procurement can help solve these challenges and how best-in-class companies and are using technology to improve NPI performance.