Product Lifecycle ManagementMorgan Humburg
One of iRex’s guiding principles and a value we’ve carried to every partnership over the last 25 years is that business is a series of personal interlocking commitments with an emphasis on resilience and trust.
Bringing new products to market is both exciting and nerve racking. Products, after all, are the lifeblood of a manufacturer, the fuel that keeps a company moving forward. Months or years of planning come together for the final launch of any product. Anyone who has spent time in the product development world knows that things don’t always go as planned, and has likely encountered a familiar set of crises: limited development budgets, ticking clocks to get to market, launch and scaling and burst capacity challenges, vendor changes, increasingly perilous supply chains, service inventory and potential product recalls. These are the perils that come with any product launch – but add 2020 and the Covid-19 crisis on top of these challenges and you have a recipe for a suboptimal or even botched launch.
If this year has taught us anything, it’s that businesses who have resilience built into their business models are the ones best poised to not only survive, but thrive in this current climate. Nowhere is this truer than with the partnerships a business makes, where reliance on another company often defines a product’s success. One of iRex’s guiding principles and a value we’ve carried to every partnership over the last 25 years is that business is a series of personal interlocking commitments with an emphasis on resilience and trust. When we work with a customer, it’s with a sturdy, problem-solving background that has been proven to work.
The TyRex Technology Family, of which iRex is a member, was built on a firm understanding of the entire lifecycle of a product. Put another way, we’ve built a business designed to help our partners through crisis management in all its forms. From design to assembly and later to testing, our team of companies represents market-tested and proven solutions at every stage in a product’s lifecycle. Take product development for instance – to help build a prototype, iRex has at its disposal a design house, 3D print shop, and expert component sourcing within the span of a few offices. Not merely as departments, but complete companies that can stand alone in their respective markets, though certainly made stronger when leveraged as a whole. What this mix of independence and collaboration means for our partners is a complete understanding of costs, technologies and potential pitfalls. Our expertise can help guide your company to market with complete and unique engineered solutions while lowering supply chain risks.
Should traditional sourcing and manufacturing fail or not fit your exact situation, we have the technology to provide alternatives, we have software and manufacturing teams who wrote the book on documentation, and we have a reliability testing lab to ensure your product meets certifications and can anticipate potential issues through accelerated life testing.
Imagine you’ve gone through the process of prototyping and after months of development, your product is finally successful. It’s time to ramp up production and get your product to market, but when you turn to your normal vendors, they’re struggling to get back to you due to consequences of the pandemic – or worse, they’ve shut down completely. Now you have to scramble for an unproven backup with your new product, and with the crunch of getting to market and the other stressors of the process, how can you be sure that you’ve chosen the quickest, most cost-effective manufacturing method? Or that your partner includes complete, continuous quality control and documentation just in case the products need to be upgraded or recalled? With TyRex, these worries are nonexistent. We have decades-long relationships and tiers of suppliers so that we can quickly pivot should a process be disrupted by Covid-19 or other issues. Should traditional sourcing and manufacturing fail or not fit your exact situation, we have the technology to provide alternatives, we have software and manufacturing teams who wrote the book on documentation, and we have a reliability testing lab to ensure your product meets certifications and can anticipate potential issues through accelerated life testing.
Of course, all these techniques and tools wouldn’t be worth much if there wasn’t a robust culture driving them. At iRex we’ve proven time and time again our responsiveness to fixing problems, whether those problems originate with us or not. As this pandemic continues and each link in the product life cycle represents a new risk of disruption, we invite you to consider what many other companies are doing – invest in a one-stop shop like the TyRex Technology Family, where stability, fair pricing, and a focus on quality are only second to customer satisfaction.