Case Study: Bigger, Bolder, Faster Innovation

Client Description

Large European CPG company

Background

This client struggled to succeed in their innovation and renovation efforts due to:

• Poor resource management as a result of ineffective prioritization of their innovation / renovation pipeline.
• Hundreds of active projects at any time with a small percentage showing success 2 years post launch.
• Ineffective cross-functional and geographical collaboration leading to multi-month delays in launch dates.
• High production costs and lack of harmonization across a highly complex, acquisition based manufacturing environment.
• Speed to market months behind industry standards.

Objectives

To develop a more balanced innovation / renovation pipeline that delivered both improved speed and an increase in true innovations that would drive long term success in the marketplace.

TPG Approach

Utilizing proven best practice methodologies, TPG designed a world class approach to enhancing the client’s innovation / renovation pipeline to deliver bigger, bolder innovations and speed. Our outputs included:

• Design of an Innovation / Renovation strategic planning model to provide focus on key consumer platforms and preferred pipeline makeup by type of innovation / renovation
• Development of a cross-portfolio innovation decision and prioritization process and council tasked with:
• Simplifying the current pipeline through the reduction of redundant and non value added projects.
• Providing focus and resources to drive innovation projects more effectively through the development and launch process.
• Oversight to ensure a balanced pipeline that included an increase in significant innovation efforts.
• Creation of a simple, yet multi-faceted scorecard to ensure prioritization decisions align with strategic vision.
• Development of a Fast Track process to significantly shorten speed to market on initiatives matching key criteria.

Impact/Results

• 1st time development of an Innovation / Renovation strategic plan that expands efforts from current state of 12-18 months out to a 3+ year pipeline.
• Reduction of small, resource intensive renovation projects in the overall pipeline mix
• Increase in number of “big” innovations through focus, capability and capacity builds
• Installation of manufacturing menu options that allow for Fast Tracking, improving speed to market and lowering costs