All organisations today are under pressure to innovate, develop and introduce new products and services to meet the needs of ever demanding markets. Certainly, being the first to market with a new idea gives businesses the potential to gain competitive advantage over competitors. So we must accept there will always be a strong focus on rapid innovation and fast product launch. But introducing new products that cannot be manufactured cost effectively limits business profitability – for years. This is where we need to apply the principles of Process Control.
Process Control is a methodology that many organisations use to manage production to ensure products are made in a consistent and cost effective way. Using Process Control in Formulation Research & Development is also vital. It allows us to statistically prove that we are capable of making a new product effectively. It should be a question that forms the basis of one of your major milestones in the R&D process. “Have we got the data that demonstrate our production process will produce our new formulated product?” Unfortunately, we’ve seen organisations that haven’t used this methodology and as a result costs are higher than they should be, and profitability is low.
In our webinar recording we’ll discuss how you can keep your business profitable using this key concept.
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