Time-to-market (TTM) is the length of time it takes to develop a product from conception until it is released to the market and is available for sale1. Reducing TTM can provide a competitive advantage, as it can help a company to capture customer demand, respond to market changes, and increase profitability1.

One strategy to decrease TTM for a new product family is to increase collaboration between the buyer and the supplier of new components. Collaboration can involve sharing information, resources, risks, and rewards among supply chain partners to achieve mutual benefits2. By collaborating with the supplier of new components, the buyer can improve the quality, reliability, and innovation of the components, as well as reduce the costs, lead times, and uncertainties associated with them2. This can speed up the product development process and reduce the time and resources required to bring the new product family to the market.

The other options are not effective strategies to decrease TTM for a new product family. Decreasing the number of suppliers for components of the new product may reduce the complexity and variability of the supply chain, but it may also increase the dependency and vulnerability on a single or few suppliers, which may affect the availability and performance of the components3. Decreasing the purchasing lot size for the new product’s components may reduce the inventory carrying costs and risks, but it may also increase the ordering costs and frequency, which may affect the efficiency and responsiveness of the supply chain4. Increasing the safety stocks for the new product’s components may reduce the risk of stockouts and delays, but it may also increase the inventory carrying costs and risks, as well as tie up cash flow and working capital.

References : Time to market: Definition and strategies to speed up TTM; Time To Market (TTM) Defined & Why It’s Important | TCGen; Market Timing Tips Every Investor Should Know; Supply Chain Collaboration: Definition & Benefits; [Supplier Consolidation: Definition & Benefits]; [Economic Order Quantity (EOQ) Model: Definition & Formula]; [Safety Stock: The Ultimate Guide].