Key drivers of reduced cycle time

This study demonstrates that short cycle times can be achieved while enhancing the effectiveness and quality of new products. Companies operating on short cycle times there found to extensively involve customers and suppliers in their new product R&D processes, adopt a product design philosophy that encourages the development of future innovations at low cost, incorporate manufacturing concerns at the design stage, rest new products in user facilities during their development, and have well-developed procedures for transferring learning from one project to another. Short-cycle-time companies were also more profitable than longer-cycle-time companies and exhibited new product success rates above their industry averages, thus demonstrating that short-cycle-time management off on the bottom line.