Engineering Brain Drain? New Strategies for Coping
Does the food industry still have the engineering competencies to deliver innovation and great bottom line results?
Top-line growth (sales) is heavily dependent on new product successes. Last year, there were more than 33,000 new consumer products introduced in the US. Yet, traditionally 60% to 90% of new products fail in the marketplace. The cost of these failures is enormous with the R&D, marketing and advertising costs, as well as potential capital investments, required to launch a new product.