REDARC has adopted and developed a strategic plan involving 15% of sales revenue being invested back into research and development. A number of structures and methodologies such as PDM and company-wide project management systems have been implemented in order to develop successful global and local products for varying customer demands in an efficient and timely manner.
The core differences between designing for Australia and for International markets are compliance and legislative requirements, environmental considerations, differences in user preference and scalability of design and manufacture. As many REDARC products are designed for automotive, particularly OEM, applications for the compliance requirements are stringent which can increase both design and validation timelines. Varying environmental and user preference requirements can also impact projects as these regional variances increase the overall range of required performance for a successful global product. Finally, consideration for future volume increases is paramount to successfully launching into larger markets and sustaining the ever-growing product demands.
REDARC has always employed a structured product development process, historically this has been focussed on design for local markets. To better service global design requirements several new processes have been incorporated into the REDARC system. The development of a global, OEM level test standard ensures that our products are designed to the most stringent standards. Detailed market research and customer requirement discovery processes allow us to identify market specific functionality demands and the adoption of modular design principles allows us to separate core fundamental functions from those designed for specific market requirements which increases flexibility and reduces time to market.
The implementation of global product development procedures provides a focussed approach from staff at all levels within the business, with the correct assistive development tools implemented, the challenge seems to bring out the best in people. The resultant products are often not only suitable for export markets but allow us to approach local customers at an OEM and Defence level. This then elevates the REDARC brand and increases the perceived value of our standard product offerings.
Other Key Features
REDARC’s path towards product design for global markets started a number of years ago and has evolved through many decisions and events throughout this time. The journey started with a decision to enter global markets, an export business & marketing plan and the definition of strategic business goals related to growth and investment both locally and globally. REDARC corporate metrics include: • 35% of sales revenue will come from products released within the previous 3 years, achieved 5 years running. • Growth target of greater than 20% YoY, exceeded 15 years running. • 15% of revenue to come from export markets by 2020, on target to realise this goal. Key to our development of the right product is understanding our market and customer needs. To ensure this understanding within the business REDARC have: • Engaged Fraunhofer (Germany) to conduct an Industry 4.0 audit, and • Produce both Product and Technology roadmaps spanning the next 5 years and beyond • Become an active member of key market industry associations such as CIVD, RVIA, RVDA, SEMA, NATM and NATDA. As a result of global focus and dedication to growth REDARC now exports to over 35 countries and has recently committed to major distribution channels in the US.