NEXUS NEWS
5 Benefits of Lean Product Development
June 21, 2022
by Cj Pettus
Experience the benefits of Lean Product Development by learning how to implement various tools and techniques from the methodology. Lean thinking is key to problem solving. Implementing Lean methodology in a product development environment allows organizations to grow and improve. When you choose to implement these tools, you will experience many benefits, including the following:
1. DELIVER VALUE AT THE LOWEST COST
With Lean methodology, teams can focus on creating new customer value and designing the future value streams to deliver the value at the lowest total cost throughout the product’s life cycle.
2. CREATE BETTER QUALITY PRODUCTS
By using Lean tools, product teams can design solutions up front, creating better quality products.
3. IMPROVE TIME TO MARKET
Another benefit of Lean Product Development is the ability to bring products to market much more quickly. Some practitioners have significantly expedited their time to market, benefitting from a 20-50% improvement in development lead times.
4. CREATE A HIGH-PERFORMING SYSTEM
You gain more than just a set of tools. With Lean Product Development, you can create a holistic and high-performing product development system.
5. EXPERIENCE A SMOOTHER PROCESS
When your team is on board with working in a Lean environment, you will experience significantly less frustration and wasted effort.
Are you ready to experience the benefits of Lean Product Development? You can learn how to implement the methodology and bring your team on board with the short certificate course from the University of Michigan.