Text Box: Case Study — New Product Development Development of Audio Play Back Device KISMET SSP was approached by a promotional product vendor after its CEO had spent 4 months in product development with another service provider. The CEO was disappointed in the supply chain solution, design quality, and overall price point. He needed a solution that was affordable with excellent sound quality, could be ready in two months, and flexible to changing demand. Issues: No clearly defined specification, ever increasing price creep, required to place 10K minimum order quantities, poor product sound quality, and no strategy for responding to small custom orders under 200 pieces in less than 7 to 10 days. Actions Taken: Competitive industry analysis, Supplier business / quality audits, technology assessments, price equalization, formed strategic supplier relationships, implemented new design solutions, documented key features in detailed functional specification, established reliable low-cost competitive logistic channels, set-up alternative packaging solutions Results: After only 7 weeks from project start, the client had received his first product samples. These were fully functioning products in two different model versions complete with electronic assembly and injection molded plastics. KISMET was able to secure pricing for its client that is 30% lower than the next best solution. Minimum order quantities are now 1000 pieces vs. 10K quantities with the prior developer. Sound and functional quality is “greatly improved” and small custom orders can be handled on the fly per a custom sound chip that can be programmed on stock units. The product can also be customized in various colors, audio clips, logos, and packaging. Other notables include a reduction in lead times to 20 days, 50% reduction in retooling costs, elimination of design & development expenses, and no set up charges for small runs.

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