Page 5: New Product Development
Every year Kraft introduces new products across a range of consumer markets, and this involves a considerable amount of investment and planning. Working within the product teams, planning analysts work together with Kraf's Research and Development Division to analyse market opportunities for the Power Brands and discuss how to introduce new products to the market. This means that they help plan the future rather than just recording the past.
The planning process involves using the budget to co-ordinate the whole business, including operations and organisations within its supply chain. This is vital to ensure the demand for NPD is met with enough supply of product. A business is only as strong as its weakest link in its chain.
This planning approach, combining expertise from across the business, does more than simply focus everybody within the business upon goals; it also helps the organisation to develop a business plan that ensures the effective investment of funds.