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Time to Market: The Importance of Timely NPI

Many new products are being developed today, so the timeframe from a project idea to new product introduction (NPI) is more important than ever. But with this new sense of business urgency come challenges, some which will remain if you don’t have the right vendor to help you along the way. A true company of the future that is developing and creating new, innovative products must have a 21^st century supply chain that can keep up with your needs, which means finding vendors who can synergistically multitask efficiently and quickly to meet time-to-market challenges. Here are seven characteristics you need to look for in a good supply chain vendor.

1. Synergistic Capabilities
Deal with companies that can provide all aspects of the products, from design to fabrication and assembly, and do it efficiently and rapidly. This type of vendor can control these various function  consecutively, and in some cases, concurrently. You need a vendor who can provide you with a complete package and be able to give you one quote and accept one order for the entire package.

2. Communication
A great vendor is one who will work side by side with you on your project and let you know every step of the way exactly where they are on it. From design to assembly, you need to know not only where your project is, but also when you can expect it to be delivered.

3. Reliability
Nothing is more important than getting your new product to market on time. Projects are most time- sensitive when they are being introduced. Nothing is sadder than going to a trade show and not having your new product to introduce or exhibit. And the worst situation is not making your monthly revenue forecast because your product did not arrive in time to be invoiced that month. You must have reliable suppliers that you can rely on every time, especially when time is of the essence.

4. Honesty
You must be able to believe what your supplier tells you, which means complete transparency. If you cannot believe your supplier nor trust them to tell the truth, then get out fast; sticking with them will only hurt you in the end.

5. Integrity
Your synergistic supplier works with your intellectual property. Often, they work on a new and innovative product that you have spent millions of dollars developing, so the last thing you need to worry about is them stealing your idea and running with it. Make sure that your supplier has impeccable integrity because you are trusting them with your future. This is not the time to “wait and see;” ensure that your supplier has enough integrity that you can trust them with your company’s life.

6. Loyalty
Often, the best suppliers work on numerous NPIs for their other customers, and you have to make sure that they are unquestionably loyal to you, as they should be to all of their customers; you should expect nothing less. You should be completely comfortable and at ease with your supplier and know with full confidence that they will not share any of your proprietary information with one of their other customers, especially one of your competitors.

7. Expertise
You have to be able to work with vendor partners who are experts in what they do. Just as you are an expert in your field, you have to know that they are experts in theirs. They know more about the design, fabrication, and assembly of your PCB project. You need a partner you can rely on to advise and educate you on how to design products that will be easy and economical to produce. They should be able to give you unbiased advice on how to build the best product on the market today. And they have to be honest enough to show you the best ways to reduce costs, allowing you to make the best decisions possible.

Conclusion
Bringing a great product to market in today’s ultra-competitive arena is the most important part of any company’s business. Therefore, trusting the right vendor partner to carry the ball during this integral NPI phase is the most important decision you will have to make, so do not make it rashly. As the Grail Knight said in “Indiana Jones and the Last Crusade,” “You must choose, but choose wisely…”

My next column will talk about making your vendor your partner.

Imran Valiani is an account manager at Rush PCB.