Converging Technologies, Trends, and Social Patterns Position Product Design to be a Prime Driver of Corporate Value
Product Design Value Series Description
Product design is entering some great years ahead. There are a number of technological advances and industry trends that affect product design, and they are all converging in the same set of years. The last time industry saw this level of change was in the mid-1980s to the early-1990s, as the electronics age was dawning. In that era, Industrial design (ID) and user interface design (UX) took on a whole new importance and spawned entirely new industries in both areas. The rapid growth and maturation of 3D modeling, CAE, and EDA provided the initial tool sets to advance both industries. Then, in 2007, Apple launched the iPhone and gave both areas another boost. We have watched design competition intensify the last dozen years, and spread from B2C industries to be fully inclusive of B2B industries.
There are many more things on the horizon today than there were as the ID and UX industries were born. They will all play out in the next five or so years.
Industrial design and UX design will become yet more important. The relatively new phenomenon of big data analytics is beginning to show the correlation between ID and UX (and other parameters and opportunities we will discuss) to increased revenues, profits, and stock price. The same is true for sustainability and sustainable design. Big data analytics is also a driving force on its own. With capabilities now at price points that just about all can access, companies are on a tear to make the most of the data collection ability of their products - both as the products are made in the factory and especially when they are in the hands of customers and users. Industry 4.0 goals are resulting in products that are much more 'alive,' to interact with the Industrial Internet (IIoT), when they are being manufactured. Financial opportunities, brought to light by social media's surveillance capitalism, are resulting in races to design products that can collect more data than prior and competing products ever did.
The next step in the growth of 3D modeling is also at hand. 3D printing is maturing to the point that it can make factory parts. In the summer of 2018, a number of companies in the automotive, aerospace, and medical device industries made public that they now additively manufacturing parts that are used in their commercial equipment. Product designers and developers will soon have even more complicated decisions regarding the method of manufacture as they begin their designs. At the same time, Design for Manufacturability and Assembly (DFM/A) complexity is also increasing. Designs must increasingly be sustainable and environmentally friendly. Traditional rule sets are undergoing change. Disassembly, recyclability, and environmental regulations are growing and impacting both design and manufacturing.
The 7-6-7 Plus Programs
7 Ways To Create Value From Product Design
The first program focuses on opportunities to design-in capabilities that will enhance the appeal and increase the value of products from their point of purchase throughout the product's life cycle. We will discuss seven different opportunities, and quantify the size of the economic opportunity for each. The least opportunity represents a 20% increase in revenues unto itself. The several large opportunities represent upwards from 200% increases in revenue and profit from the same design effort.
For each of the value creation opportunities during product planning and design we will provide a bit of history, describe the current status of the opportunity, provide facts and figures on the size of the revenue/profit and/or market cap opportunity, and offer our best thoughts on speed and progress in the years ahead.
The Plus in this 7-6-7 Series program will touch on how miniaturization of design, next generation motors, and a couple more topics will also begin to influence product design.
The Product Design Value 7-6-7 Plus Series: 1 of 3 - COMPLETED on March 14, 2019
6 Ways To Reap Value From Product Design
The second program focuses on opportunities to increase the value of products, portfolios, and brands that have been robustly designed. We will discuss six different opportunities, and quantify the size of the economic opportunity for each. These opportunities are all have double-digit potential to increase revenues and profits, and single digit for market cap. In some cases, incremental monies will be needed to realize the augmentation potential of the design or design-leverage ability.
For each of the value creation opportunities during product planning and design we will provide a bit of history, describe the current status of the opportunity, provide facts and figures on the size of the revenue/profit and/or market cap opportunity, and offer our best thoughts on speed and progress in the years ahead.
The Plus in this 7-6-7 Series program will cull-out selected awards and recognitions for good product design, as distinguished from the multitude of award and recognition program categories existing today.
The Product Design Value 7-6-7 Plus Series: 2 of 3 - COMPLETED on April 11, 2019
7 Measures To Value Product Design
The third program focuses on measures that characterize or quantify good design in the eyes of customers and users. While some measures also have utility for internal purposes such as product quality, reliability, and cost, this program centers on how customers, users, markets, and the investor community regard the products.
We discuss seven different KPIs that range from codifying the quality and robustness of ID and UX designs, to metrics that gauge pricing gross margins and potential market value, to indexes that provide for cross-market comparisons and market cap premiums.
The Plus in this 7-6-7 Series program will briefly touch on several other metrics relevant to good product design including customer satisfaction, completion rates, NPS, and others.
The Product Design Value 7-6-7 Plus Series: 3 of 3 - COMPLETED on May 9, 2019
Agenda
Executive Summary
Product design is increasingly being proven to be a prime driver of corporate, brand, and market value. Technology and business trends in IIoT- and IoT-Enablement, UX/User Interface Design, Sustainable Design, Design for Recyclability/Disassembly, Miniaturization, 3D Printing and Additive Manufacturing are boosting the importance of having great Industrial and UX Design to every higher levels. Big data analytics are uncovering stronger and stronger correlations between great product design and superior corporate performance in the marketplace and in equity markets
The Product Design Value 7-6-7 Plus Series addresses twenty product design topics in three distinct programs. The first program identifies and addresses the value of designing-in next-generation capabilities. The second program addresses techniques to attain the maximum value from robust designs already achieved, or in process. The third program addresses useful measures to quantify the degree and extent of design robustness and value.
Reviews
Great intellectual stimulation! Provides some important “nuggets” with application to my business per VP R&D, McNeil Consumer Healthcare Canada. Enlightening! This is a good blend of what has happened and what we might expect in the future.
Director of Product Development, Staples Inc.
Methodology
Methodology
Each one-hour program is produced to standards consistent with top business and technical presentations at thought-leading industry conferences, and recorded live. The editing process removes any small errata that occur, pauses and the like, and adds music to professionalize the lead-in and trailer. There is no promotion, advertising, marketing, or sales elements to the programs, zero. Each program is 100% educational content that is underpinned by fact-based research, both primary (custom) research and secondary research.
Proper bibliographic references are provided for all cited content, directly on the page it occurs, enabling participants to see the source as the subject is presented; and then to be able to directly find the original source after the program completes. Each slide deck has a registered ISBN number and copyright.
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Speakers
Mr Brad Goldense,
CEO ,
GGIBrad Goldense has been focusing on the strategies, tactics, and operations of product management, development, and manufacturing since the 1980s.
He has authored over 300 publications and consulted to over 200 companies across the world. Some 500 companies have participated in his seminars and masterclasses. Mr. Goldense has a BSCE from Brown University and an MBA in Finance from Cornell University and four decades of experience in engineering and management.
Brad has spoken in hundreds of settings and was a faculty member in the graduate engineering executive program at Tufts University for two decades. Certified New Product Development Professional, Certified Manufacturing Engineer, Certified Production and Inventory Management, and Certified Computer Professional credentials underpin the presentation of the one-hour programs.
