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Supply Chain Managing Risk During New Production Introduction By Pete Rezac, General Manager, Radius Innovation & Development


can motivate us to think outside the box and help us discover new oppor- tunities. Of course, unmitigated risk can cause loss of a business, loss of professional confidence, or even loss of life. A healthy approach to risk keeps us moving forward, while leveraging experience to inform our path without overextending. This healthy approach starts by


R


asking questions: What could go wrong, what are we able to control and what is worth the effort to con- trol? The answers to these questions determine the right path — steering us away from chaos, wasted time and money, or from alienating the target market. Whether a company is a startup,


mid-size firm or a large corporate en- terprise, there are always risks when introducing a new product to market.


isk keeps us moving, but also keeps us from going too far. Risk can be very positive. It


It is how a company prepares for, as- sesses, manages, and monitors these risks that matter. At Radius Innovation & Devel-


opment, we want to understand our customers’ circumstances and active- ly engage risks to help them succeed. This takes experience, savvy and candid communication.


Talk, Listen, Learn At Radius, we have more than


25 years of experience bringing inno- vative products to market. We also have a diverse, cross-functional team of professionals who are adept at un- covering risks and assessing them from different angles, turning them into opportunities or finding the best way to manage them. But perhaps most importantly,


we understand that risk manage- ment is a team sport. When our clients endure the discomfort and have an open conversation about


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risk, it always uncovers new chal- lenges, opportunities, and informs a better overall approach. Yes, this is a big ask. We’ve all


worked in environments where the knowledge sharing does not happen or where teams are working in segre- gated functional silos with minimal to zero cross-communication. There is a reason why the Ra-


dius team does not work like this. We have all been down this path and know that it will not work. Therefore, we work the way our customers do, leveraging processes and techniques that build trust and get project teams to open up, discuss problems, ask questions, and work through some tough answers in order to learn. This is also why we place so much emphasis on truly listening.


The Right Tools at the Right Scale


In too many organizations, risk


management is performed using a single process and a single pre- scribed tool or set of tools, without consideration of the parameters of the project or its measures of success. At Radius, the breadth of projects we work on —from brand strategy to full product development and NPI — has forced us to be nimble. We have developed a flexible


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quality management system (QMS) and processes that can be tailored for a very light touch. This will empha- size speed, optimize ROI in high- risk/high-reward scenarios, or be scaled to ensure the customer’s mis- sion-critical launch is achieved on- time, with a design history file that stands up to full regulatory scrutiny. Because of this diversity, we


have become experienced at assess- ing each project and collaboratively selecting the most applicable tool and applying the correct level of risk management rigor. We also keep up- to-date with current and future tech- nologies, industry standards and reg- ulations, user trends, and how these all impact opportunities for each NPI from start to finish.


Changing Technologies, Changing Times


Introducing a new product to-


day requires a blend of many ele- ments. Increasingly, these elements include the seamless integration of physical and digital development cy- cles and accelerated qualification and launch schedules. The team must have the experi-


ence and bandwidth to manage this complexity effectively, while hitting launch targets. It may be beneficial to communicate with a team that has al- ready been through this process. Whether leveraging internal experts


or turning to partners like Radius, the riskiest elements of technology must be identified and addressed early. When managing this complexi-


ty, we often employ an iterative process to guide product develop- ment and introduction. In the past, iteration cycles were too costly and schedules were often made or broken by “getting it right the first time.” But, the accelerations gained from today’s analytical tools and the Ra-


Regardless of company size, there will be risks when introducing a new product. It is how a company prepares for, manages and monitors risk that matters.


dius Digital Prototype Lab enable the prototype iterations necessary to make adjustments and optimize technical details at a pace that will meet a launch timeframe.


Using Risk to Your Advantage This is how we prepare to use,


manage and monitor risk to guide our product development process. We use the latest risk management tools and techniques, talk and discuss op- portunities with our diverse group of experts. With the most up-to-date tools and technologies available, we can analyze and prototype earlier and more often. Along the way, there will be


some twists and turns and the origi- nal idea might not be the one that we all agree to develop, but we will have found the very best opportunity for the market. The risk lies in chasing an idea


without knowing if it is what cus- tomers want or care about. This is where the chaos comes in. We work to minimize this chaos and push to ideate, innovate and realize our cus- tomers’ opportunities. Contact: Radius Innovation &


Development, 200 Union Street, Clinton, MA 01510 % 978-368-3200 E-mail: stephen.goodman@radiusin- novation.com Web: www.radiusinnovation.com r


Pete Rezac is a talented


system development engineer who has contributed increasingly to Radius Innovation & Develop- ment since 2010. He is responsi- ble for managing operations of the company’s New England stu- dio. Radius is a product develop- ment firm that optimizes prod- ucts and brands before bringing them to market.


August, 2017


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