Software Modules deliver product introduction decision support.
Share:
Press Release Summary:
ActiveProcess(TM) and ActivePortfolio(TM) modules work in conjunction with ActiveProject(R) software. ActiveProcess helps drive shortened, standardized product introduction efforts by consolidating key information from development, marketing, and manufacturing activities coordinated by ActiveProject. ActivePortfolio delivers insight into product portfolio, including information about cost of projects under development, projected profitability and likelihood of customer acceptance.
Original Press Release:
FRAMEWORK TECHNOLOGIES ANNOUNCES FIRST PRODUCTS DESIGNED FOR SUCCESSFUL PRODUCT INTRODUCTION DECISION SUPPORT
ActiveProcess(TM) and ActivePortfolio(TM) to Enable Manufacturers to Introduce the Right Products at the Right Time and the Right Cost
Burlington, MA - April 30, 2002 -Framework Technologies, the leader in solutions that increase product introduction success, today announced the release of two new modules, ActiveProcess(TM)
and ActivePortfolio(TM). Working in conjunction with ActiveProject(R), Framework's flagship software that continuously synchronizes key information, milestones and critical communications between all members of an organization's distributed product introduction team, the new modules will
enable manufacturers to increase revenue from new products and reduce both development and product costs. The three products - which together comprise the ActiveProduct(TM) solution suite --
deliver critical, product introduction decision support to organizations. As a result, manufacturers are able to bring the right products to market while optimizing their product porffolio, compressing their product introduction process and synchronizing their team members' activities.
Like ActiveProject, ActiveProcess and ActivePortfolio can be deployed in days, a rapid implementation rate that provides customers quick, demonstrable returns on their solution
investment. Additionally, the solution suite was designed to leverage a manufacturer's existing paper-based product introduction processes, which facilitates adoption and improves deployment success. ActiveProcess and ActivePortfolio are built upon Framework's deep experience in the early phase of product lifecycle management (PLM), from ideation to market introduction,
developed over the past seven years. Product introduction encompasses product development, manufacturing processes including equipment and fixturing, as well as the actual manufacturing facilities.
"Whether looking to improve the new product introduction success rate, time-to-market, or manufacturing costs, PLM technology can help," said Kevin O'Marah, vice president and research fellow, AMR Research, in a January 2002 report entitled The Top Pitfalls of Product Lifecycle Management. "Executives from Consumer Packaged Goods to Aerospace see great promise in PLM, addressing as it does the still minimally automated but strategically critical function of New Product Development and Introduction (NPD&I)."
ActiveProcess Ensures Products Introduced at the Right Time and the Right Cost Built on top of ActiveProject, ActiveProcess automates and formalizes a product introduction team's usually successful, but highly intensive, manual product introduction process, transforming it into a competitive weapon to increase the success rate of the product launch. ActiveProcess helps drive shortened, standardized and successful product introduction efforts by consolidating key information from development, marketing and manufacturing activities coordinated by ActiveProject.
ActiveProcess enables team leaders to:
- Formalize existing, paper-based processes for use in global environments, including stage gate methodologies, and following company guidelines and decision criteria
- Access detailed, current project information and adjust the project to respond to internal activities and external market constraints
- Incorporate customer requirements earlier in the product introduction process
- Integrate suppliers during the introduction phase to capitalize on the highest savings potential by managing product, equipment and facilities requirements necessary for product success.
Additionally, ActiveProcess promotes efficiency by tying together today's cross-functional product introduction team - including sales, marketing, product development, manufacturing, and all the various external partners involved in the manufacturing phase. By constantly coordinating the entire team to be focused on key - and not all - activities, milestones and communications, manufacturers are able to meet demanding launch schedules and reduce product introduction costs.
ActivePortfolio Ensures Right Products are Brought to Market ActivePortfolio, which is built on top of ActiveProcess, delivers insight into an organization's entire product portfolio, including information about the cost of projects under development, projected profitability and the likelihood
of customer acceptance. By bubbling up key information originating from ActiveProject and ActiveProcess, ActivePortfolio enables executives responsible for product introduction to effectively manage the growth and risk of their entire product portfolio.
ActivePortfolio not only accelerates the rate of product introductions, most importantly, it ensures that the right products are quickly brought to market by allowing executives to:
- Align product and project decisions with corporate strategy
- Conduct analysis of various combinations (geography, product line, etc.) to maximize product success
- Track progress of the entire portfolio of products
- Make well-informed decisions based on real-time, project-driven data.
"Bringing the right, new products to market in a smaller timeframe in order to stay competitive is a given," states Rich Gardner, vice president of product development at Amerock, a division of Newell Rubbermaid. "The paper-based process we had in place simply did not allow our globally dispersed product introduction teams access to the key data they needed to make efficient and effective decisions. ActiveProduct will enable us to move to an electronic new product introduction process, one that unifies our teams around a standardized, repeatable, and
measurable process. Using ActiveProcess, we were able to take our paper-based process and automate it in less than a day; that included the process steps, reviews, deliverables and decision
criteria. Framework's solutions will also provide a window into our product development processes, letting us identify opportunities and problems earlier, and enabling us to take
appropriate action at whatever stage we are in. This type of decision support is powerful and will help Amerock drive new revenue while reducing costs."
"Despite efforts placed on product development, many manufacturers are failing to increase revenues from new products. In large part, this trend can be attributed to executives essentially working in a tunnel and investing in the wrong products," said Donald Tomkinson, president and CEO of Framework Technologies. "With ActiveProcess and ActivePortfolio, manufacturers like Newell Rubbermaid now have critical insight into the key data that will enable the entire product introduction decision chain to constantly determine their best course of action. By introducing the right products to market at the right time and the right cost, companies will have the ability to align their product introduction activities with their corporate goals, and substantially increase top line
revenue growth while decreasing introduction costs."
Pricing and Availability:
Cumulative pricing for ActiveProcess is $95,000 and $130,000 for ActivePortfolio. Framework Technologies offers pricing options for a wide variety of business concerns, and the software will
be available June 1, 2002.
About Framework Technologies
Framework Technologies is a leader in product introduction decision support software, helping Fortune 1000 manufacturers such as Goodyear, Moen, GE Plastics and Timex introduce the right
products at the right time and at the right cost. Framework's ActiveProduct solution suite focuses on the early phase of the product lifecycle, from ideation to market introduction, and works in conjunction with solutions offered by product lifecycle management (PLM) and product data management (PDM) vendors. With ActiveProduct, manufactures are able to make highly informed product decisions that support corporate strategy, optimizing their product portfolio, speeding time-to-market and synchronizing their extended teams and outside partners. For
further details please visit www.frametech.com.
