Innovation cycle time (ICT) measures the speed at which a company develops a new idea, engineers it, and scales it into a manufacturable product. It encompasses design, prototyping, testing, and the final handover to the factory floor. Reducing this metric allows manufacturers to respond faster to market shifts and outpace competitors with updated product lines.
Heard on the job
We need to cut our ICT by three months if we want to launch the new pump series before the trade show.