Is it possible to achieve higher margins with less risk?
Learn how manufacturers can transform themselves for profitable growth. This report reveals best practices in manufacturing strategies for innovating future product lines.
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Engineering business priorities | Increasing innovation capacity
The industrial equipment industry has changed rapidly in recent decades and increasing global competition makes it very difficult for manufacturers to innovate and differentiate themselves to create a sustainable competitive advantage.
Market maturity and the ability for fast followers to quickly copy incremental improvements mean that industrial equipment manufacturers need to develop new growth strategies, such as differentiating through innovation.
In fact, Tech-Clarity research finds that 45% of industrial equipment manufacturers nominate innovation as their number one manufacturing business strategy.
But be careful, incremental innovation isn’t enough. Companies need to deliver breakthrough innovation to truly create higher value and business growth.
This report identifies how industrial equipment manufacturers can transform their business to a position of growth by implementing a strategy for innovation, without investing in additional resources.
With the right approach to innovation, companies will ensure future revenue streams, while managing risk. Getting this right is a challenge for many companies, but is especially difficult for businesses such as industrial equipment manufacturers offering Engineer-to-Order products.
This report discusses best practices for becoming more innovative, while meeting the demands of on-time delivery for current projects with current resources.