{"id":552,"date":"2011-11-09T10:30:17","date_gmt":"2011-11-09T15:30:17","guid":{"rendered":"https:\/\/product-pulse.planview.com\/?p=1298"},"modified":"2016-09-29T15:56:38","modified_gmt":"2016-09-29T20:56:38","slug":"softwares-role-in-innovation","status":"publish","type":"post","link":"https:\/\/blog.planview.com\/softwares-role-in-innovation\/","title":{"rendered":"Software\u2019s Role in Innovation"},"content":{"rendered":"<h2>An Excerpt from &#8220;New Insights for Driving Innovation in Product Development&#8221; Webcast<\/h2>\n<p>This is part three of my three-part series on a recent Planview hosted Webcast titled &#8220;New Insights for Driving Innovation in Product Development: Is Your Organization a Lean, Mean, Innovating Machine?&#8221; featuring Sanjeev Pal, Research Manager of Product, Project and Portfolio Management Solutions at IDC, and me. Previously, I summarized our discussion of <a title=\"The Business of Innovation\" href=\"\/product-innovation-examples\/\">market trends and innovation<\/a>. Now, let&#8217;s talk about the role software can play in product innovation.<!--more--><\/p>\n<h3>Software as a Solution<\/h3>\n<p>Sanjeev recommends that companies not only use industry-specific software, but software that understands the company&#8217;s processes. Generic software won&#8217;t be as effective or cost-efficient. Also, this software should be used in conjunction with the lean and operational improvement principles he discussed.<\/p>\n<p>We then highlighted the role software can play in product innovation. Software can manage the mass amount of internal and external ideas companies receive. It links ideas to a product. Of course, not every idea is feasible within the current marketplace. Software allows companies to save these unused ideas for the future to continue the innovation process.<\/p>\n<p>PLM and how product management software can help companies throughout the entire process was our next topic. Sanjeev illustrated steps within the product lifecycle related to product innovation:<\/p>\n<ul>\n<li>Idea management<\/li>\n<li>Product management<\/li>\n<li>Virtual simulation of product<\/li>\n<li>Product analytics<\/li>\n<li>Supply management<\/li>\n<li>Manufacturing process optimization<\/li>\n<li>After market support<\/li>\n<\/ul>\n<p>Although the process may vary, there should be a constant flow throughout the product lifecycle of innovation and collaboration. Also, this process doesn&#8217;t just apply to manufacturers. Product development organizations want to know how to foster innovation and track it throughout the product life cycle as well.<\/p>\n<p>Finally, Sanjeev offered his closing thoughts and recommendations. He predicts that the sluggish economy will continue and has already become the &#8220;new normal.&#8221; Even if you implement several lean principles and practices, if you don&#8217;t innovate, your company won&#8217;t have a very secure future. He reiterates that this doesn&#8217;t have to mean creating a brand new, game-changing product, but rather can occur through incremental innovation.<\/p>\n<p>To learn more about the topics I&#8217;ve covered in this series, listen to the complete Webcast New Insights on Driving Innovation.<\/p>\n<p>Related post: <a title=\"The Business of Innovation\" href=\"\/product-innovation-examples\/\">The Business of Innovation<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>An Excerpt from &#8220;New Insights for Driving Innovation in Product Development&#8221; Webcast This is part three of my three-part series on a recent Planview hosted Webcast titled &#8220;New Insights for Driving Innovation in Product Development: Is Your Organization a Lean, Mean, Innovating Machine?&#8221; featuring Sanjeev Pal, Research Manager of Product, Project and Portfolio Management Solutions&#8230;<\/p>\n","protected":false},"author":17,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","footnotes":""},"categories":[36],"tags":[255],"class_list":["post-552","post","type-post","status-publish","format-standard","hentry","category-product-development","tag-product-lifecycle-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Driving Innovation in Product Development - Blog | Planview<\/title>\n<meta name=\"description\" content=\"If you don&#039;t innovate, your company won&#039;t have a very secure future. 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Learn about the role software can play in driving innovation in product development.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/blog.planview.com\/softwares-role-in-innovation\/\" \/>\n<meta property=\"og:site_name\" content=\"Planview Blog\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/www.facebook.com\/pages\/Planview-Inc\/89422974772\" \/>\n<meta property=\"article:published_time\" content=\"2011-11-09T15:30:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2016-09-29T20:56:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/blog.planview.com\/wp-content\/uploads\/2019\/10\/planview-logo-social-media-400x400.png\" \/>\n\t<meta property=\"og:image:width\" content=\"400\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Patrick Tickle\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ptickle\" \/>\n<meta name=\"twitter:site\" content=\"@Planview\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Patrick Tickle\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/blog.planview.com\\\/softwares-role-in-innovation\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/blog.planview.com\\\/softwares-role-in-innovation\\\/\"},\"author\":{\"name\":\"Patrick Tickle\",\"@id\":\"https:\\\/\\\/blog.planview.com\\\/#\\\/schema\\\/person\\\/1d4bc9236a3a571f6477374b6fd7ded3\"},\"headline\":\"Software\u2019s Role in Innovation\",\"datePublished\":\"2011-11-09T15:30:17+00:00\",\"dateModified\":\"2016-09-29T20:56:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/blog.planview.com\\\/softwares-role-in-innovation\\\/\"},\"wordCount\":373,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/blog.planview.com\\\/#organization\"},\"keywords\":[\"Product Lifecycle Management\"],\"articleSection\":[\"Product Portfolio Management\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/blog.planview.com\\\/softwares-role-in-innovation\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/blog.planview.com\\\/softwares-role-in-innovation\\\/\",\"url\":\"https:\\\/\\\/blog.planview.com\\\/softwares-role-in-innovation\\\/\",\"name\":\"Driving Innovation in Product Development - Blog | Planview\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/blog.planview.com\\\/#website\"},\"datePublished\":\"2011-11-09T15:30:17+00:00\",\"dateModified\":\"2016-09-29T20:56:38+00:00\",\"description\":\"If you don't innovate, your company won't have a very secure future. 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