Every new product involves some degree of risk, but some require larger leaps of faith than others.

Best-practice organizations look beyond geographic boundaries when forming product development teams.

Although every product may be different, standardizing the new product development process (and the tools used within it) streamlines the movement of products from ideation to market.

An effective new product (NPD) process is a basic requirement to compete in today’s market. But how do global organizations adapt and modernize their NPD stage gates with rigor and still remain fast and nimble?

To swiftly and effectively develop new products, organizations must rely on sound processes and learn how to create process structures that will support a variety of different projects and goals.

Well-defined roles, training systems, gatekeeping processes, and documentation procedures bolster product development in any organization.

For innovative products to make it to production in time to satisfy the market, organizations must define their processes, stage-gate procedures, roles/responsibilities, and evaluation criteria.

Ashland Inc. has developed structures for gatekeeping, process management, and Six Sigma related to product development.

To keep the new product pipeline full of viable ideas and possibilities, an organization needs to clearly define its product development roles and processes.

To excel in innovation, organizations must be able to define it. This sampling of definitions from best-practice organizations demonstrate how leaders in innovation understand and integrate it into their businesses.