Engineering leaders are under constant pressure in the future of making things to find more innovative solutions and the Product Innovation Platform may provide a crucial competitive advantage.
Future of Making Things
With growing pressure from increasingly demanding customers and an extremely competitive global market, engineering leaders need to focus on four key areas:
Increase innovation capacity
Improve product performance
Reduce warranty issues
Win more profitable bids
Implementing the Product Innovation Platform can deliver these outcomes. Further, companies that have adopted this platform have seen impressive improvements in key aspects of their businesses:
Improved success rate of new product launches by 25%
Increased speed to market by 50%
Achieved 90%+ customer satisfaction rates
The Product Innovation Platform centralizes all the applications, knowledge, data and tools into a single system within an organization, unifying the processes used to design, develop, manufacture and support products.
Essentially, the Product Innovation Platform is a departure from the linear manufacturing process:
Operate and retire
Manufacturers need to replace this approach with a more fluid, flexible and closed-loop process to make product design infinitely more dynamic and therefore innovative.
For an introduction to the Product Innovation Platform, read this executive bite and find out how manufacturing can be transformed with new processes under the Design, Make and Use framework.