A Study On Kraft Foods Product Innovation Management

Innovation is a systematic approach to the enterprise.Enterprise wins competence and the future only when it takes innovation as a systematic engineering management..FMCG company is facing fierce competition.The key for FMCG to have continuous innovative products catering consumers is to build a systematic innovation process into their daily operation.Kraft Foods acquired Danone Biscuit and Cadbury respectively in recent years;The innovation system and process are all different among three companies.It's a priority to setup a high effective innovation process and management system by integrating three companies'strengths.The author starts from the innovation theories,firstly,introduces the Kraft foods like FMCG category's characteristic and category competition,takes the FMCG leading company P&G's innovation process as a reference to show how essential to integrate the innovation process for the company.;then,compares three companies 'processes and runs business situation analysis,comes up with a consolidated and standard innovation process to the new organization;in order to integrate the innovation process to business environment,the author uses the six sigma method to create a linkage between innovation process and Integrated Business Planning(IBP).This linkage,called Portfolio Management Review(PMR),makes flawless connection between innovation and business operation and gets synergy from each other.The systematic innovation funnel includes key stages;each stage has its innovation tools and best practices.The author leverages and builds them into new innovation process.It introduces six methods to generate innovation ideas,two best practices on idea collection,the project prioritization and how to fostering innovation culture within the company.Finally the author introduces the key steps for innovation process management execution and how to bring innovation to live.