Selecting the most profitable projects from the start: yes, but how?

Select the most profitable product development projects

Launch all projects, respond to all tenders? Or select the most profitable?

In the food industry, it is not uncommon to have to carry out dozens of product development projects per year, and even hundreds in private labels. R&D managers know this well: prioritising projects and distributing the load is no easy task. What are the priority projects? Calls for tender from the biggest customer? The ones from the most urgent customers or those who shout the loudest? The ones that promise the highest volumes?

On average, 80% are abandoned along the way: not feasible, too high a cost price... And you have to get to the trials to realise this! So much energy that could have been mobilised on the most profitable projects.

"Being able to sort the tenders according to price and composition criteria has enabled us to save weeks and to enhance the know-how of the teams.

according to the R&D manager of a private label ready meal manufacturer.

How to evaluate a project from the start?

Selecting the right projects, yes but how? Starting with a simulation exercise allows you to quickly visualise the main evaluation criteria: PRI, Nutri-score®, origin, environmental footprint, etc. Are the main objectives of the brief or the call for tender met? Is the project profitable?

These criteria can be calculated and provide the means to make informed decisions: to abandon projects before spending too much time on them, to prioritise and focus on the most promising projects.

An interesting approach? This is what Keendoo proposes by combining a formulation tool linked to the reference database and a project management tool specifically designed for the food industry. 

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