Time-to-Market ( TTM ) is the total time it takes to identify, develop, and reach cost-effective delivery and serviceability on both new and incrementally improved products and services; e.g., the cycle time of the design/development process.
An assumption of using a structured time-to-market development process is that skipping steps of a process to speed time not only undercuts quality but can lengthen product development if the step has to be repeated later on. The better approach is to apply process improvement tools and techniques to shorten the steps, reduce decision making time, and automate activities.
Different enterprises should apply Time-to-Market methodologies according to its own business strategy, as speed is not always the objective. Time-to-Market improvement processes lend to more predictable schedules, minimized labor resources and flexibility to make changes midstream without disruption. Click here for New Product Development Guide.