What are the challenges in product development? | HCL Technologies

TECHNOLOGY Q&A

Product Lifecycle Management

What are the challenges in product development?

Bringing any product to market quickly and profitably is an achievement, but in the case of consumer products, it is especially notable due to the short timeframe available and the complexity of factors outside the core product lifecycle data. Fully developing a distribution-ready consumer product requires a complex suite of processes to be effective. The consumer and market pressures are relentless, so companies need to be innovative at every step of every process. While focusing on product and manufacturing processes is critical, efforts invested in upstream and downstream activities like line planning, packaging, artwork, and labeling, can turn a loser into a winner and more importantly, help companies select and develop winning products from the start.