Risks to Consider When Launching A New Product

By March 17th, 2021No Comments
Risks to Consider When Launching A New Product

So your idea is finalised and the deadline is set. Now it’s time for production.

However, at some point during production, something goes wrong. And what should’ve been smooth sailing has turned into a salvage operation. You’re trying to pinpoint what went wrong, sending the product back and forth through your facility, doing new tests, and finally, you’ve fixed it.

But you’ve overshot your deadline – and the product might suffer as a result. And all because your time was spent fixing an issue that accurate information and data could’ve prevented.

We see this all too often in product launches. Given how many things could go wrong, it’s hard to pinpoint the exact issue.

So how can you minimise the risks?

Spotting the Issues

Time is always of the essence in a product launch, and a lack of control is one of the major time-sinks that causes late products.

Understanding what goes wrong and what goes right is difficult without a system that keeps track of the data.

It’s all too common to run into problems during the tuning and testing stages, and not knowing whether your product will work in the field is a significant problem. You need to have a clear view of the product being made, to avoid quality issues.

That’s why having easy access to data through the production and testing phases is vital – right from the very beginning. You need to be able address the issues as early as possible with all the necessary information available instantly. WATS provides you with more control of the production with test data, which gives you better visibility of the production journey, saving you valuable time.

WATS helps you avoid a late product launch by:

  • Revealing and analysing the problems in real-time, both for production and product owners.
  • Saving time during tuning and testing by providing the right data for the right stage.
  • Pinpointing what’s causing the issues. For example, a new product might not be fully understood yet – which means problems with assembly, soldering, gluing, and mounting are almost guaranteed.
  • Saving time and money by allowing you to build more effective prototypes. This is done by identifying the production issues early, enabling you to tune both the product and production accordingly.
  • Increasing the quality of the first series of products. WATS collects data from tests and repairs and spots the issues early.

Risk Reduction with WATS

Having a system where the data reveals the problems for you opens up a world of possibilities in risk reduction. With a system like WATS, you can use the data from your previous products to launch the next one, helping you reduce the number of risks. Using old data to test new products allows you to apply a more effective process of your production.

WATS allows you to take the right steps when fixing your problem – no more walking around in circles. It allows you to continuously improve your problem-solving process by giving you an overview of what went right and what went wrong.

Implementation of WATS is effortless as well; it doesn’t require extensive knowledge to use to its full potential. Understanding the data is the first step, but acting on it allows you to fix any problem during production – saving you both time and money and allowing your business to grow.

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