Top performers unlock their capacity to innovate to launch quality products on time and with increased product margins.
Engineering business priorities | Increasing innovation capacity
Innovation isn’t just a matter of having great ideas, but also the capacity to bring them to market and make them a commercial success. Capacity to innovate is often compromised by the need to win contracts, deliver existing projects and service customers.
By harnessing new technology to effectively drive innovation, successful product development companies can deal with the challenges to unlock innovation capacity to deliver on new ideas and get to market with the right quality and to the right customer.
And the benefits of being best-in-class are clear, and include:
Meeting product launch dates more often
Accuracy of product costs
Higher quality products at release
Great ideas can come about at any time, anywhere and from anyone inside and outside your organization driving the need for optimal collaboration and appropriate processes to capture, follow up and evaluate these ideas.
Applying the right technology to support an innovation culture can help to:
increase capacity for innovation by optimizing other processes, and
increase innovation through-put with better processes
Product development and engineering departments can reap the benefits of improved automation and higher process consistency to concentrate on winning profitable business or improve modularization strategies.
See the differences in success between the Best-in-Class and their competitors in this infographic.