Burlington, MA August 13, 2002 Product introduction solution provider Framework Technologies said it introduced two new modules by the end of the second quarter of 2002, in accordance with the vision of its new leadership. The two new modules, ActivePortfolio and ActiveProcess, address product introduction and, according to Framework Technologies, enable manufacturers to see increased revenues, reduced product development expenditures, increased quality and decreased risk.
Framework said the company's new President and CEO Donald Tomkinson spent his first quarter at the company examining why, over the past decade, manufacturers have failed to increase revenues derived from new projects and how technology can help manufacturers boost product introduction success. He concluded that, in large part, the underwhelming product success rate could be attributed to a misalignment between a company's strategic business objectives and its product introduction team activities.
"Unfortunately, many manufacturers still approach product introduction haphazardly, wildly speeding any product to market," he said. "Often, the end result is wasted time, money and resources on projects that fail to generate sufficient revenues, neglect to reach the company's ideal markets or fall short of aligning with corporate strategies."
The ActiveProduct solution suite, which is comprised of ActivePortfolio, ActiveProcess ActiveProject, was created to bridge the gap.
Framework Technologies said that it anticipates further demand for its solution as manufacturers increasingly acknowledge the opportunity costs associated with devoting resources to the wrong projects, and as they recognize the potential to drive increased profit by focusing on this early phase of the product lifecycle.