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Scott Edgett Delivers Latest Findings from Food Industry Benchmarking Study at COEX 2012 Event Hosted by International Foodservices Management Association (IFMA) in Las Vegas, NV

ANCASTER, ONTARIO, CANADA (February 28, 2012) - Dr. Scott Edgett , CEO of Stage-Gate International (SGI) today presented the latest findings from a benchmarking study completed to understand the role of new product development in the Foodservice industry. Dr. Edgett’s findings were delivered at the International Foodservice Manufacturer’s Association (IFMA) COEX 2012 event in Las Vegas, NV, attended by more than 450 industry food leaders. Specific topics in Dr. Edgett’s presentation included: new product development project types, performance metrics to monitor and measure performance of NPD initiatives, typical idea-to-launch process activities, gatekeeping practices, and impact of collaboration between Manufacturers and Operators, in the foodservice industry.

Dr. Edgett’s findings come as part of the development of standard innovation frameworks for foodservice through the Center of Innovation Excellence (CIE). IFMA and Stage-Gate International have teamed up on the initiative, with the support of an expanded committee of foodservice manufacturers and suppliers. “This benchmarking study will provide powerful insight into what manufacturers and operators are doing to drive innovation performance,” said Dr. Edgett.

The benchmarking report will provide deeper understanding of the role new product development plays for foodservice and will uncover common performance metrics used to measure and compare success. “This is an exciting opportunity to generate best practice standards for product innovation within the foodservice industry. We think this can be a game-changer for the industry,” explains Dr. Edgett.

The CIE founding members are a diverse group, including the 10 original companies, Procter & Gamble Company, Land O’Lakes Inc., Schwan’s Foodservice Inc., Rich Products Corporation, Otis Spunkmeyer, Kellogg’s Food Away From Home, International Paper, Basic American Foods, Sargento and Insight Beverages. In addition, new members have joined to support the initiative, including The Bama Companies Inc., Bunge Oils, Coca-Cola Foodservice & On-Premise, Hobart (ITW), General Mills Foodservice, Kraft Foodservice, Lyons Magnus, McCain Foods, Nestle Professional, Sara Lee Foodservice, Surlean Foods and Unilever Food Solutions. More companies are joining daily. 

For more information about the study, please contact:

Michelle Jones
Executive Vice President
Stage-Gate International
michelle.jones@stage-gate.com
+1-905-637-8793
www.prod-dev.com

About Scott J. Edgett
Dr. Scott J. Edgett is internationally recognized as one of the world’s top experts in product innovation and is the pioneer of portfolio management for product innovation. He is a high profile speaker and sought-after consultant. Dr. Edgett has had extensive experience working with large multinational clients in a variety of industries, principally focusing on issues affecting innovation leadership and capability. He is credited with helping business executives and innovation professionals successfully implement world-class innovation processes that have generated outstanding results.  He is a prolific author having coauthored six books and has published more than 60 academic articles.

About Product Development Institute
Product Development Institute (www.prod-dev.com) is dedicated to helping companies improve their approach to new product development and portfolio management. Led by internationally recognized experts in the field of product development, Drs. Robert Cooper and Scott Edgett, PDI provides executives and managers with a wide range of products and services aimed at improving companies' new product success rates. Cooper and Edgett have worked with more than 800 businesses, including most Fortune 500 companies, and have compiled the largest knowledge base on product development best-practices in the world.

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