Idea
Without innovation a product line will stagnate and eventually decline. A product line manager’s responsibility is to continuously listen for and work to develop new ideas that will drive the product line forward.
An idea for a product improvement or new product can come from any source involved with the current product line. Whether it is a customer, machinist, sales representative, or an engineer on the team it is critical that the product manager keep communication lines open with all interested parties.
Once captured the ideas need to be documented and vetted for economic, technical, and strategic importance. When judged against all other ideas and current priorities the manager can decide if and when to act on the idea.
Developing a process to follow when investigating new ideas is important for communicating with management the innovation pipeline and strategic opportunities. This will guide management when determining the amount to invest in the product line moving forward.