Another holiday is upon us and retail stores everywhere are filling up with a variety of red and pink keepsakes for loved ones. I was recently at a Hallmark store stocking up on my own Valentine’s Day gifts and stumbled upon their latest product, Magic Message Reveal Heart. I was automatically impressed because I know the planning, product development, and time it takes to ensure products are delivered to the market on time – and for consumer goods companies like Hallmark, these dates cannot be missed! On that note, I invite you to read a recent article published on CIO.com that features Hallmark’s CIO Mike Goodwin as he discusses how they apply portfolio management tools to run consumer products development and the competitive advantage they are experiencing.
“On February 14, 142 million Valentine’s Day cards will be exchanged, not even counting packaged kids’ valentines. It’s the second-biggest holiday for greeting cards (Christmas is the biggest), and a critical time for Hallmark¹…” Continue reading the Portfolio Management Isn’t Just for IT Anymore article on CIO.com.
Another interesting fact is that Hallmark’s phase-gate processes are integrated into their portfolio management solution supporting innovation, commercialization, and customer special requests. Read a recent interview with Monica Alderson, business services director of consumer solutions at Hallmark as she discusses innovation challenges and the tools and processes that support their innovation process.
I’d like to hear from you, what you think about Hallmark’s approach to meeting fixed deadlines? What are some of the best practices you use to advance your innovation strategy? Share by leaving a comment below.