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Innovative Product Development Models That Are Delivering Greater Value

Innovative Product Development Models That Are Delivering Greater Value. Enterprise Competitiveness Council / Supply Chain Leadership Committee Jt Meeting - Key Largo, FL April 25 - 29, 2007. For the benefit of business and people. PANEL OF INDUSTRY EXPERTS. Moderator

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Innovative Product Development Models That Are Delivering Greater Value

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  1. Innovative Product Development Models That Are Delivering Greater Value Enterprise Competitiveness Council / Supply Chain Leadership Committee Jt Meeting - Key Largo, FL April 25 - 29, 2007 For the benefit of business and people

  2. PANEL OF INDUSTRY EXPERTS • Moderator • Rick Horwitch – Vice President, Solutions Business Development – Bureau Veritas • Speakers • Brad Beal – Executive Vice President, Manufacturing and Operations, Jockey International • Jennifer Pritchard – Director, Cycle Time Reduction, JC Penney • Renee Bavineau – Consultant, Walter Wilhelm Associates Bureau Veritas Consumer Products Services

  3. CHEAPER FASTER BETTER • TOTAL COST IMPROVEMENT • CYCLE TIME REDUCTION • FINAL PRODUCT QUALITY IMPROVEMENT FOR EVERYONE …… THE CHALLENGES Bureau Veritas Consumer Products Services

  4. ZARA, H&M and WAL-MART Zara and H&M “Fast Fashion” I am not Zara and H&M ********** Wal-Mart EDLP vs. EDLC Price vs. Value Bureau Veritas Consumer Products Services

  5. THE CHALLANGES • Maintaining Brand Consistency • “Elimination of quota’s puts a premium on superior sourcing.” • Technology as and enabler – “The World Is Flat” • Communication, Transparency and Collaboration across multiple time zones and languages • Consumers are demanding higher quality, better prices and want it NOW • Global distribution (traditional retail outlets or via the internet) present special challenges and opportunities Bureau Veritas Consumer Products Services

  6. Speed to Market DISTINCTIVE VALUE PROPOSITIONS …… CREATING MULTIPLE VALUES TO ALL STAKEHOLDERS BRAND OWNERS VENDORS Cycle Time Reduction (CTR) • Speed up product development • - Streamline samples approval process • Reduce goods storage time at DC • - Minimize full inspection incidents • Improve sample submission rate • - Fit / PP / Bulk / TOP Samples • Improve lab dip submission rate • Minimize re ordering of raw materials (fabric, trims) • Minimize re work • Speed up production process (minimize domino effects) Total Cost Improvement • Lower service provider fees • Reduce buying office overhead costs (Vendor QC) • Reduce loss of business opportunities at retail outlets • Reduce workload at DC level for full inspections • Minimize charge back to customers • Minimize late delivery air freight • Improve production planning • Eliminate commission to agent • Minimize re test submissions Total Quality Improvement • Improve final product quality • - Fabric standard / design • - Garment engineering • - Workmanship • Improve overall quality management system • Improve in process and out process inspections Bureau Veritas Consumer Products Services

  7. WHAT DOES THIS REALLY MEAN A CASE STUDY Improved processes, efficiencies and communication result in: Cheaper 10% to 30% Reduction in G&A and COQ 5% to 20% Margin Improvement Faster 2 to 5 week Cycle Time Improvement Better +50% Reduction in defects, identified during final inspection in the DC Bureau Veritas Consumer Products Services

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