Product Specification Management
Specright's Specification Management platform makes it easy for product development professionals to manage the entire product life cycle, from ideation to production. Learn how you can accelerate your speed to market with Specright.
The Role of Specifications in the Product Development Cycle
Specifications are the vehicle that bring your product from concept to market. In today’s world, the product development cycle needs to be flexible, agile, and robust to meet market demands and stay ahead of competitors.
Precise technical documentation is crucial for working through each step of product development. The current information technology offerings aren’t maximizing the value of the vast amount of market data out there. With Specright, kickstart ideation by utilizing current specification data that can be adapted, cloned, or combined for use in a new product. Once you have a product idea, you can leverage Specright to share specifications with your supply chain for a quick prototype turnaround. Streamline project management, quickly build out BOMs, and forecast cost to determine profitability of your new product early on.
With Specright, meeting consumer demands is less complicated; this means spending less time chasing data and more time testing and finalizing your new product.
Customer Stories: Each year, Ocean Mist Farms receives hundreds of requests for new products from their customers. Learn how Ocean Mist Farms used Specright to accelerate product development and increase data quality.
Specright Enables Product Development Professionals To
Kira Labs: Enabling Fast Beauty With Specright
Kira Labs is known for its ability to go from consumer insight to store shelves in record time. Learn how they centralized specifications to increase speed-to-market and decrease the product development cycle.
The State of Product Development
Every industry from CPG, to food & beverage, cosmetics, and even machinery has experienced a tectonic shift in the past decade. Consumer demand for new products has skyrocketed and product development cycles are shortening as a result. To operate in this new paradigm, product development professionals need new ways of working.
The Value of Specification Data Management™ to Product Developers
Today’s consumers demand novel, high quality products faster than ever before. Let Specright do the busy work of data management so you can prioritize innovation and bring the products consumers want to market.
Specright's Tom Preston talks about why Specification Data Management™ revolutionized the way companies handled demand in the beauty industry.
Specright Accelerates & Manages Each Step of the Product Development Cycle
Manage New Product Request or Changes
Product development teams are often inundated with requests. Whether the requests are internal or external, it’s challenging to organize and validate which should be pursued with the tools and legacy systems currently available. On Specright, get a holistic view of your supply chain’s current capabilities, your entire product line, and vital sales information to make the validation process easier. Centralize requests through change requests and new product request forms. Then, use your current product offerings to forecast the success of your product idea by tying performance to products for better understanding of what should be included in your acceptance criteria. Intelligently strategize which requests to prioritize and better serve your customers with Specright.
Many industries are affected by the pace of change in consumer preferences. Customers are expecting more products at a faster rate, condensing the new product development cycle from what previously took months or maybe even years, to a matter of weeks. With easy cloning features, reduce the time it takes to develop new product design solutions. Most of the time, the majority of a new product already exists within your data. Stop wasting time trying to reinvent the wheel and build off of what already works.
Clone and easily edit product specs to fit your new design, saving time and allowing you to give your customers what they want faster. If you want to build a brand new spec, use the ‘see similar spec’ tool to streamline ideation and apply learnings from previous product development cycles, enabling faster turnaround and less mistakes.
Project Management and Tracking
It’s critical to keep design teams and other cross-functional teams in sync. Let Specright be your project manager so you can focus on making amazing things. With workflows and approvals tools, collaborate effectively across departments. No more endless email chains, sending around constantly changing information. Department-specific dashboards enable an intelligent but simple project management system, and allow teams to take controlled ownership of tasks by giving approvals capabilities to decision makers. Gain visibility into each step of the product development process and measure effectiveness with reporting features. Know where bottlenecks occur and create efficiencies early on, saving time and growing profit. Also, implement automatic alerts for consistent contact with internal and external stakeholders to keep the process moving, avoiding stagnation in the product development cycle.
Intelligent Costing Analysis
All too often companies either don’t have enough information or wait until the last minute to find out whether or not their new product will be profitable. Specright gives you the tools to build out your Bill of Materials (BOM) faster, by rolling up costs from the specification level to the finished good level, resulting in a BOM you can use for early costing analysis. If you don’t have exact information to gauge the cost of new specs, put your current data to use by utilizing the like item finder to use similar specs as a costing placeholder. Say goodbye to data entry and pouring over spreadsheets to determine profit margins.
Additionally, leverage your data for scenario planning and ‘what if’ analysis. For example, if an ingredient is unavailable, analyze the cost of substitution with a different ingredient spec. On Specright, obtain a holistic view of costing before it’s too late, money has been spent and resources have been wasted to better the chances of your product successfully getting to market.
Turn production from a complicated web of people and processes into a seamless, collaborative procedure. As supply chain complexity increases, companies often run into problems stemming from data mismanagement. It’s a major undertaking to ensure that the right people have the right information and can make your production cycle go smoothly. Specright functions as a single source of truth that keeps all parties involved and informed, making it so you don’t have to rely on external stakeholders to provide you with the data you need constant visibility of. Track all product components, such as packaging, shipping, and logistics on Specright, so you always know what phase of production you’re in.
Use dashboards and reporting features to manage departments and make sure they’re on schedule, within budget, and compliant with the ever-growing list of product regulations and requirements. Also, constant access to reliable specification data enables procurement professionals to better handle more RFPs from a larger supplier pool, powering more informed bid comparison. With Specright, save millions of dollars with better management tools during the production phase.
Keep the new product development process going, even after your product has hit the market. The product development cycle is iterative, and the more you can improve, the happier your customers are and the better your profit margin will be. Tie product data to quality and sales data to pinpoint exactly what in the Bill of Materials is driving market successes and failures. Easily track manufacturing test failures or issues using the quality module for visibility into how products actually perform in the wild.
By understanding the parts of the product that may be inhibiting success, you can rapidly respond and refine your product. With detailed spec data – from raw materials to finished product – you have the level of insights you need to make more sustainable products – and track progress over time. As new technology in materials or ingredients emerge, simply update specifications to quickly pivot products, ensuring they’re always made with the best stuff. Specright helps companies maintain traceability and visibility into products. Make your data work for you, so you can better serve your customers and keep putting the best products on the market.
Ocean Mist Farms: Accelerating New New Product Development
Each year, Ocean Mist Farms receives hundreds of requests for new products from their customers. Learn how Ocean Mist Farms used Specright to accelerate product development and increase data quality.
Ability to Work the Product Development Cycle Backwards
Packaging takes up a large portion of the cost of bringing a product to market. Unfortunately, with the way companies typically go about the product development cycle, packaging isn’t considered until late in the game, especially distribution packaging. This causes packaging to be limited by both the product itself and the distribution environment, which can lead to expensive packaging that isn’t optimized to cut shipping and materials costs.
With Specright, a complete view of your supply chain is available at your fingertips. Armed with this knowledge base, you can reengineer products and packaging to better suit the distribution environment and impact your triple bottom line. By using the data housed in Specright, benefit people, your profit, and the planet, using your product and packaging choices as the medium for change. How can you optimize current products to better fill the space in a truck? How can you make new products that are lighter and more environmentally friendly during shipping? Specright revolutionizes the product development cycle by allowing you to save money and achieve sustainability goals.
What about Product Lifecycle Management?
Rather than using a breadth of tools to manage a product’s lifecycle, manage your product from cradle to grave on Specright. Specright assists all stages of the product life cycle, including stages not managed on typical PLM systems, like ideation and customer feedback. Many tools available don’t manage everything you need to bring a product to market, causing companies to use multiple technologies, have redundant information, and slow progress. Specright streamlines product management by bringing all necessary tools into one platform, letting the technology do the work, so you don’t have to.
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It’s our mission to create software that enables product development teams, their processes, and their operations to always have an accurate and unified view of all the tools they need to bring their concept to market. Using legacy information systems inhibits this process, especially considering the importance of speed, quality control, and accuracy in the product development process. Industries such as healthcare or food and beverage need the ability to safely innovate their products, and with Specright, they can.
With the world’s data consistently moving to the cloud and with global markets demanding a single source of truth for critical product data, it’s only a matter of time before product development teams have no choice but to utilize this technology to keep up with market demands. As demand is the root of a business, your organization should always have comprehensive visibility into all the data that helps bring your products to life.
Specright does what no design software, manufacturing software, PLM software, or legacy system has done before. It simplifies the complex by transforming siloed, disjointed specification information into invaluable real-time data streams that accelerate nearly every supply chain effort. Specright gives you back more time and resources to stop worrying about heavy administrative workloads and spend more time making amazing things. Learn more about Specification Data Management and its impact on product development in our latest eBook or schedule a demo today.
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Reducing SKU Duplication & Costs
New packaging requests don’t have to mean new specs. Learn how using Specright can help you quickly identify like specs and consolidate SKUs. Specright’s software system helps intelligently search out a variety of spec records of all types with an easy-to-use, intuitive, lookup tool. And you can divide and organize specs in any way that works best for your organization, suppliers, and customers.Watch Now
Frequently Asked Questions
Product specifications are any details needed for designing products. There should be enough information provided that a complete product can be built from a company’s product specs. Product specifications are the foundation of all goods providing businesses and hold the data that drives efficiencies, cuts costs, and serves your customers. These can range from product components such as packaging specifications, formula specifications or ingredient specifications all the way to finished product specifications.
The main purpose of product specifications are so the product team can detail exactly what they want the supply chain to produce. Specifications documents function as the communication medium between stakeholders during product development and serve as a contract of the expectations for production.
A specification includes any technical information regarding components of product design and supply chain considerations. For example, a food and beverage product spec sheet would include details on the recipe for the product, where ingredients are sourced from, Food and Drug Administration standards, amongst other information. Specifications should reflect everything that is required to make a product; as such, requirements management is a critical part of specification management.
A product design specification is anything from ingredients, to recipes, to packaging details, and manufacturing methods. Specifications house all of the crucial data needed to create the final product.
Currently most companies are writing specifications from scratch, rebuilding data points they already have, wasting time and money. On Specright, technical specifications writing is made easy, with templates, cloning tools, and the ‘like item finder.’ Streamline the specification writing process so you have all the product information you need to meet market demands faster.