The future of commercially successful new product development in the chemical industry
Paul Hodges is a 30-year chemical industry veteran who serves as chairman of International eChem, an organization that works with businesses to help them better compete in our modern, volatile markets.
Touching on topics ranging from major economic shifts to the chemical industry’s changing role in the automotive world, he discusses the quest for commercially successful new product development (NPD) in today’s economy.
In this interview, Paul Hodges offers a variety of thoughts on the evolution of NPD, including how:
- Changes in demographics are lessening consumer demand, meaning that companies will have to think more deeply about what customers really need and always be asking, ‘Why?’
- As climate change affects basics like our food and water supply, and environmental concerns demand reduced waste and pollution, sustainable solutions will be in greater demand
- Companies must consider not only what can make them money in the short-term, but what projects might be successful for them in five or 10 years
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