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Last updated: 26 Sep, 2014  

Innovation generic THMB Manufacturing innovation: Key to stand strong and apart

Innovation generic
   Top Stories
» PLI scheme has attracted Rs 1.46 lakh crore investment, created 9.5 lakh jobs
» Centre pays Rs 4,820 crore to 2.75 lakh farmers for pulses under MSP scheme
» India's private sector growth surges to 4-month high in Dec: Report
» Govt inks Rs 13,500 crore deal for 12 Sukhoi fighter jets with HAL in big boost to self-reliance
» Over 2.2 crore women-owned MSMEs registered under govt scheme in last 4 years: Minister
Writuparna Kakati | 25 Sep, 2008

Today's businesses face a war; they have to beat their competitors, conquer the customers - the market is their battle field and core competences their weapon.

In manufacturing businesses, this war is more challenging. The market is flooded with an ever-increasing range of products to choose from and manufacturing businesses therefore have to win a 'bloodier' battle.

But no war is won by chance, neither in manufacturing business. You can defeat the enemy only by gaining a sustainable competitive advantage over him. The question is: how to do it? The answer is: innovation. Manufacturers need to consider new ways of working, new technologies so that they can respond rapidly and cost-effectively to customer changing demand.

Innovation is the key to success in any business. In the manufacturing sector, it is just like Archimedes' burning mirrors - keep your 'enemies' at distance, keep yourself safe and sound. Business can introduce innovation in manufacturing in different areas -new, process, new material, new equipment - and gain ground on their competitors.

Let's start with what innovation usually refers to in a manufacturing business -

  • Product innovation to manufacture novel products, improved product design and quality, wider product range, etc.  
  • Process and equipment innovation for aster turn around times, increase production, etc.  
  • Green technology innovation to reduce waste levels and downtime.
Where to implement innovation
You need money and time to introduce innovation to your business. Therefore, it should be driven by your business needs and not by the mere attraction of change. Consider carefully where innovation should be and could be implemented into your manufacturing business. You may consider the following areas where innovation could be implemented to multiply the performance of your business.
  • Production: New components and suppliers, new materials to improve product packaging,  automated process and quality control, etc.
  • Sales and marketing: New and redesigning of products, new look to products, product improvement as per customer feedback, etc.
  • Back office: Improved ways to streamline order processing, better logistics and warehousing facilities, latest IT systems, better invoicing, payments  and accounting procedures, etc. 
  • IT solutions: Improvement of intranets, extranets, resource management system, online supply chain management, etc.

Some key manufacturing technologies
Businesses which want to implement innovation and enhance their performance, sells and profit may consider using a range of software packages. Some key software solution they may consider includes the following-

  • Enterprise Resource Planning (ERP): A business management system that integrates planning, manufacturing, sales, marketing and facets of the business.
  • Supply chain management (SCM): A process that uses software tools to manage supply, production, and distribution of products as they move from supplier to manufacturer to wholesaler to retailer to consumer.
  • Product data management (PDM): A process that uses electronic systems to manage relations between sets of data that define a product and help to bring products to market efficiently and in a cost-effective manner. PDM is considered a very important tool in product life-cycle management.  
  • Manufacturing process simulation (MPS): Software package that helps to study manufacturing processes and improve them.
  • Manufacturing execution system (MES): Software to manage plant production, quality assurance, workforce labor and other critical production activities.
  • Computerised maintenance management systems (CMMS): Computer hardware and software combination to monitor plant and equipment, record their characteristics, track status of maintenance work, etc.  

Innovation, which refers to a new or improved idea, product, or process, can give a business the momentum that takes it to the next level, be that increased sales, expanding the market, getting a better business profile or gaining a sustainable competitive advantage over the competitors. In the manufacturing sector, businesses often find that the market, which is too competitive already flooded with their type of products, offers little scope for further significant growth. All that business asks, in such a condition, is the implementation of innovation into it. The purpose of any business, trade, or manufacturer is to create customers, sell products or services, and to make profits in which innovation plays a key role. 

 
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Vivek Walia | Sun Sep 28 14:46:39 2008
Good story. Where can I find all these softwares


 
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