If your people are organised by function rather than along product lines then you are fostering a silo mentality, creating artificial barriers and introducing coordination overhead. Give responsibility for each product to a cross-functional team with full-time members, located together in one place, who possess all the skills required to deliver product frequently to your customer.
If a committee makes business decisions for each product then you will see a lack of authoritative decision-making and a loss of direction and urgency, resulting in delays and rework. Empower a single person, collocated and available for discussion, to own the product, champion its vision, maintain a visible backlog of requested work items prioritised by value, and steer development by making business decisions quickly.
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