“Working harder and smarter” is a maxim companies have taken to heart. The U.S Departments of Labor and Commerce report the U.S. business sector's productivity increased 4.0% during the second quarter of 2003 over the same period in 2002. This follows a 4.8% productivity increase in 2002 over the year 2001! Increased productivity slows inflation and keeps countries—and companies—competitive.
The search for improved efficiencies permeates all business functions, including those involved in product development. Crucial information should be exchanged between leading ingredient companies and their customers' R&D and marketing departments, as well as others responsible for implementing a firm's strategic product development direction.