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Global Product Development

Product development drives business growth

Many manufacturers are striving to achieve a global product development environment; one in which coordinated teams rely on digital means to create and share product information throughout the world. This type of approach gives companies a greater ability to manage development costs, source talent, and respond to the needs of local markets. Done well, global product development can be a major driver of sustained, improved business performance.
 
With new market demands and ever-increasing product complexity, global product development requires a tight alignment among engineering disciplines to ensure a quality final product. However, the broader the collaboration circle, the more difficult and error prone the data sharing and process coordination can be. Protecting sensitive product information becomes a very real challenge.
 
The PTC Global Product Development solution can help manufacturers simplify the complexities of global product development.
 
Unlike other approaches that operate disconnected systems, the PTC Global Product Development solution offers a single, globally accessible repository that securely captures and manages product data while synchronizing development activities that span organizations and boundaries. Companies can now develop new products and new ideas globally, while taking full advantage of local talent to meet local market requirements.
 
Done right, Global Product Development can enable:
 
80% improvement in design and process reuse2
25% decrease in product development time1
30%-40% cost savings through higher product commonalities
 
1Schuh & Co, others from PTC customer experience; 2PTC Customer

Think globally, develop locally
Globalization is not just about reducing costs: it’s about driving business growth in new markets. Many companies are adopting global product development strategies to capture these markets but continue to use multiple, independent systems to manage product information and development.
 
Listen to PTC’s Graham Birch address the challenges of global product development and how PTC can help.
 
 

Gaining Competitive Advantage

For a manufacturing company, product development is a mission-critical process. It can also be a very expensive process. In fact, in many manufacturing sectors, companies are reinvesting between 3% and 8% of their total revenues back into product development each year. This large investment is primarily spent on human resources, and if all resources are concentrated in a single high-cost region, most companies simply overpay for their respective level of productivity. While some companies may spend less across the board by mandate, they are just compromising on value-add and therefore achieving correspondingly lower returns as well.