How Sustainable is Your New Product Development Process?

This is an excerpt of the original article. It was written for the December 2015 edition of Supply Chain Management Review. The full article is available to current subscribers.

December 2015

It’s December, and time once again for our annual Executive Guide to Supply Chain Resources. This is a comprehensive guide to services, products, and educational opportunities targeted specifically to supply chain professionals. The editors at Supply Chain Management Review wish all of our readers a successful year to come.

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“Collaborate or die!” That was the tagline used in a high profile ad from an ERP company during the Internet boom. The message was clear: Companies that failed to collaborate with their trading partners were doomed to extinction. If that ad were to run today, the tagline might be: “Innovate or die!” Simply put, new products and services are driving business growth—and supply chains. Without a pipeline of innovations, many companies will eventually cease to compete, or exist. Just ask Sony. The consumer electronics company that once ruled the analog world with its Walkmans and Trinitron TVs has struggled to compete in a digital world. Or, ask yourself this: Is anyone interested in purchasing eight-track tapes? Doubtful.

But new product development in and of itself may not be enough. For one, companies compete at the supply chain level and not just at the company level. If a company is to remain competitive in the future, managers must integrate new product development (NPD) and supply chain management (SCM) processes.

For another, consumers in many instances are asking for more than just great products from the companies with whom they do business. Many consumers, especially the coveted millennials, expect companies to also act in a socially responsible and sustainable manner that considers people, planet, and profits. Satisfying this demand calls for something different: the integration of new product development with sustainable supply chain management.

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