Arlington, VA, and Davidson, N.C. (April 21, 2014) Sustainability and new product development are becoming increasingly interrelated as the former gains prominence in today’s business landscape. Organizations are seeking methods for determining how to make products more sustainable as access to resources becomes constrained. To address this challenge, Ingersoll Rand, a world leader in creating comfortable, sustainable and efficient environments, and the Industrial Research Institute (IRI), along with several other IRI member companies, collaborated to develop and publish a Maturity Model for Sustainability in New Product Development.
“Effective sustainability is proven to accelerate innovation. These tools are of great use to any company interested in improving their new product development processes,” said Ed Bernstein, IRI president. “The maturity model’s strength lies in its open and collaborative nature: it gains better statistical reliability as more organizations use it, but only if they share the results.”
The maturity model was developed over the course of several Research-on-Research (ROR) working groups at IRI meetings. The assessment tool which emerged from these projects helps organizations benchmark progress toward sustainability goals while driving new product development growth along the triple bottom line of people, planet and profits. The tool contrasts existing frameworks for measuring sustainability by being widely available and targeted to offering specific guidance to new product development teams.
“Companies continue to rapidly develop sustainability strategies and integrate them into innovation and research and design groups. This tool helps leaders throughout an organization better understand the areas where teams are excelling and where there is opportunity for growth through product management,” said Jeff Hynds, director of innovation at Ingersoll Rand and co-chair of the ROR leadership team which developed the maturity model. “At Ingersoll Rand, including sustainability in our product development process is a strategic decision based on the recognition that customers are demanding more sustainable products and services. “
The maturity model and assessment tool can be downloaded freely from the IRI website.
About IRI Based in Arlington, VA, IRI represents over 200 companies from diverse industry segments. It networks leading practitioners of R&D management in order to strengthen technological innovation. IRI is a member of the World Federation of Industrial Research Associations (W-FIRA), a collaboration of six similar organizations around the world working towards a common goal: enhancing the effectiveness of technological innovation and R&D management.
About Ingersoll Rand Ingersoll Rand (NYSE:IR) advances the quality of life by creating comfortable, sustainable and efficient environments. Its people and its family of brands—including Club Car®, Ingersoll Rand®, Thermo King® and Trane®—work together to enhance the quality and comfort of air in homes and buildings; transport and protect food and perishables; and increase industrial productivity and efficiency. Ingersoll Rand is a global business committed to a world of sustainable progress and enduring results. For more information, visit www.ingersollrand.com.