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Foodservice New Product Development Process: Performance Benchmarks

Scott J. Edgett

Downloadable PDF | 145 pages
Published by Stage-Gate International & IFMA, 2012
Price: $99.00 US

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Discover the Winning Formula for Product Innovation Success

The pressures of increasing sales and generating better profits from new products have never been greater in foodservice than they are today. Driving growth and establishing competitive advantage are becoming more difficult in an already tough market environment.

Foodservice New Product Development Process: Performance Benchmarks is a first-of-its-kind research report highlighting the performance and best practices in product innovation, specific to the foodservice industry. In collaboration with IFMA, Dr. Scott Edgett serves as subject-matter expert providing insight on the state of innovation within the foodservice industry and gives analysis on the best practices that separate the best performers from the worst in areas including product innovation process, gatekeeping and governance, and the importance of collaboration between manufacturers and operators. With data from 100+ foodservice companies across 55 variables, this is the ultimate resource for new product development for the foodservice industry.

Foodservice New Product Development Process: Performance Benchmarks

Scott J. Edgett

Downloadable PDF | 145 pages
Published by Stage-Gate International & IFMA, 2012
Price: $99.00 US

Share

Measuring Innovation Performance: Benchmark Against the Best

Almost 50% of new product projects are failing to meet business performance objectives. This should be unacceptable for most management teams, especially when a formula for better performance exists. The top 25% of businesses are achieving better than 5 times the performance of the bottom 25%. Leverage this report to bring dramatic improvements to your process, and achieve the product innovation performance levels that drives corporate growth. 

Discover the state of new product development in the foodservice industry:

  • 18 key performance indicators that measure new product performance, across business and project levels.
  • Performance indicators measuring new product sales, profitability, distribution, market share, and more
  • R&D investments made by foodservice manufacturers and the different types of new product projects, including custom vs. non-custom developments

Compare your company’s innovation performance against Top Performers:

  • 100+ foodservice companies assessed, including some of the world's top performing companies
  • Performance results broken down as best, average and worst performing companies, for easy benchmarking and comparison
  • Identify improvement opportunities within your organization, and build a case for change to become a better innovator

Implement practices proven to have a positive impact on performance:

  • Recommendations, tips, and guidelines on successful innovation specific to the foodservice industry
  • 15 key idea-to-launch process activities known to be critical to new product success
  • 12 essential governance practices that drive effective decision-making, ensuring that a well-constructed process contains robust decision points 
Sample Chart:
What percent of your business’s sales, incremental sales, and profits come from new products?


Sample Product Chart

Key Topics:

This study provides the most comprehensive guide to performance benchmarks and best practices for successful new product development within the foodservice industry. Explore these 4 key topics:

  1. Metrics:
    • Foodservice industry performance of new product development efforts
    • Indicators used by companies to measure new product performance at business and project level
    • Performance of critical idea-to-launch process, and gatekeeping and governance activities
  1. Product Innovation Process:
    • How success correlates with a purpose-built new product development process
    • The key characteristics of a product innovation process that drives powerful results
    • Performance of critical pre-development activities that every new product process must have
  1. Gatekeeping and governance:
    • The best practices that make for effective gatekeeping and decision-making
    • Importance of quality gate deliverables that yield Go/Kill decisions
    • The impact of gatekeeping and governance on new product development success
  1. The Impact of Manufacturer and Operator Collaboration:
    • The importance of manufacturer and operator collaboration in foodservice
    • Success levels of collaboration efforts of best performing companies
    • Collaboration practices that increase the likelihood of product innovation success

A 'Must Read' for people in these roles:

  • C-level Executives
  • R&D and Product Development Executives
  • Product Innovation Program Directors
  • Product Innovation Process Managers

About the Research:

The research contained in this study was undertaken jointly by subject matter expert, Dr. Edgett, and the International Foodservice Manufacturers Association (IFMA). This study is the collaborative work of Stage-Gate International and IFMA as part of the development of IFMA’s Center of Innovation Excellence. The study focused on:

  • Qualitative industry insights from 33 of the world’s best performing foodservice organizations, obtained through on-site workshops, detailed interviews and review meetings.
  • Quantitative Research conducted via a detailed questionnaire measuring 55 key variables related to product innovation performance on 106 businesses, spanning a variety of business categories, with the majority of respondents from the food sector.

Foodservice New Product Development Process: Performance Benchmarks

Scott J. Edgett

Downloadable PDF | 145 pages
Published by Stage-Gate International & IFMA, 2012
Price: $99.00 US

Share

A Common Framework for Foodservice:

Included with this benchmarking study, receive Product Innovation: A Common Framework for Foodservice, a report providing a foundational understanding on product innovation for the foodservice industry.

This report evaluates and addresses innovation issues and challenges that are unique to the foodservice industry and provides an unprecedented view into the typical new product development process and practices used by some of the world’s largest players in the foodservice industry.

Also highlighted in this special insert are critical topics such as governance and decision-making best practices also highlight the report, and the unique challenge of managing the large number of both internal and external stakeholders (and their functions) as they become involved in the new product development process.

Contents:

  • The Business Imperative
  • Types of Innovation Projects and Assessing Risk
  • New Product Development (NPD) Process
  • Typical NPD Process in Foodservice Industry
  • Fast Track Version for Low Risk Projects
  • Making Your Governance Work
  • Performance Metrics
  • Internal and External Stakeholders
  • Conclusion
  • Methodology
  • Glossary of Terms – Toward a Common Language for Foodservice

Foodservice New Product Development Process: Performance Benchmarks

Scott J. Edgett

Downloadable PDF | 145 pages
Published by Stage-Gate International & IFMA, 2012
Price: $99.00 US

Share

Table of Contents:

  1. Introduction
    • The Quest for Better Performance in Product Innovation
    • The Key Research Questions
    • Top Areas Studied
    • How the Benchmarking Research Was Undertaken
    • Organization of the Results
  1. New Product Performance Metrics
    • Percentage of Revenues and Profits from New Products
    • Success, Fail and Kill Rates
    • Time to Market
    • On Time and On Budget
    • New Product Projects Meeting Objectives
    • Business Entity Performance
    • Performance Metrics Used in Product Innovation
    • Defining and Identifying the Top Performers
    • How the Best Versus Worst Businesses Fare in Terms of Performance Metrics
    • Types of New Products Developed
  1. Idea-to-Launch New Product Process and Practices
    • A Systematic New Product Process
    • What Separates Winners from Losers
    • Gatekeeper Governance Practices
    • Quality of Your Gate Deliverables
    • Improving Your Gate Practices
  1. The Importance of Collaboration: Manufacturers and Operators
    • The Importance and Impact of Collaboration
  1. Conclusion and Recommendations

Appendix

  1. Survey Questionnaire

  2. Responses for Survey Questions – Manufacturers

  3. Product Innovation: A Common Framework for Foodservice – Phase 1

Exhibits and Key Benchmarking Figures:

    • Overview of Methodology
    • Primary Business Categories
    • Annual US Foodservice Sales Revenue
    • Foodservice Employees (US Only)
    • Respondent Profile
    • Percentage of Sales & Profits from New Products
    • Project Success or Failure – The Average Business
    • Success or Failure – Top 25% vs. Bottom 25%
    • Projects On Schedule and On Budget
    • Projects On Schedule and On Budget – Top 25% vs. Bottom 25%
    • Projects Meeting Targets or Objectives (last calendar year)
    • Profitability of Total Product Innovation Program
    • Product Innovation Program Meets Objectives
    • Top 4 Metrics Used to Measure Innovation Program Performance
    • Measures Used for Project Success or Failure - Top 4
    • Performance Metrics Results – The Best vs. Worst Performers
    • Projects Meeting Objectives – Performance Metrics Best vs. Worst Performers
    • Product Innovation Program – Met or Exceed Objectives (past three years)
    • New Product Types – All Companies
    • New Product Project Types – Custom vs. Non-Custom
    • Systematic Idea-to-Launch Process in Place
    • Impact of Having a Systematic Product Innovation Process in Place
    • Typical Five Stage Product Innovation Process
    • Product Innovation Process – Stages
    • Product Innovation Process Stages – Best vs. Worst Performers
    • Process Adapted to Meet Your Needs
    • Gatekeeping/Governance Approaches
    • How Effective are the Gates
    • Gate Deliverables
    • Importance of Effective Collaboration to Success in Product Innovation
    • Success of Collaboration Efforts in Product Innovation
    • High Degree of Collaboration Achieved Higher Success Levels
    • Impact of Collaboration – Manufacturers
    • Successful Collaboration with Customers – Top 4

Foodservice New Product Development Process: Performance Benchmarks

Scott J. Edgett

Downloadable PDF | 145 pages
Published by Stage-Gate International & IFMA, 2012
Price: $99.00 US

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Foodservice New Product Development Process: Performance Benchmarks

Scott J. Edgett

Downloadable PDF | 145 pages
Published by Stage-Gate International & IFMA, 2012
Price: $99.00 US

Share

Dr. Scott J. Edgett

Scott J. Edgett is Chief Executive Officer at Stage-Gate International and is internationally recognized as one of the world's top experts in product innovation. A high-profile speaker, sought-after consultant, and executive advisor, he is the pioneer of the critical practice of new product portfolio management, and principally focuses on issues affecting innovation performance, capability and leadership. Consulting and advising some of the world's best innovators and companies among the Fortune 1000, he has extensive experience working with large multi-national clients in a variety of industries. He is credited with helping business executives and product innovation professionals successfully implement world-class product innovation programs that have generated outstanding performance results.

A co-author of eight books, including the popular 'Product Innovation & Technology Strategy', and a published author of 70+ academic articles, Dr. Edgett is a former professor at the DeGroote School of Business, McMaster University.