• This infographic shares the importance of developing a cohesive digital thread when developing formulated products in the consumer packaged goods industry. The digital thread should be driven by customer requirements and incorporate the recipe / formulation, specifications, packaging design, compliance information, claims, cautions, ingredients, labeling, artwork, and more to provide a full view of the product and it's design history. An effective CPG Digital Thread relies on an integrated Product Innovation Platform to connect product data from early in the front end of innovation through development, … [ read more ]

    The CPG Digital Thread (infographic)
  • Join Tech-Clarity's Jim Brown on this webinar sharing  recent survey results from almost 200 Consumer Packaged Goods companies, delving into their quality issue and how top performing CPG companies achieve better quality without suffering from excess internal cost. Learn the process, organizational, and technology approaches that Top Performers leverage to overcome their challenges and drive cost-effective quality. This Business Review Webinars event is brought to you by Dassault Systèmes BIOVIA. Register for the June 20th webcast now (free of charge, registration required). All registrants will … [ read more ]

    Cost Effective Quality in CPG (webcast, survey results)
  • On Thursday June 8, 2017  please join Michelle Boucher as she conducts a live interview with Mark Turner, Technical Manager for Development IT at Alcon, a Novartis Division. They will focus on key topics for medical device companies, including the Case for Quality. During the discussion, Michelle will share research on medical device industry trends. She will also discuss the implications for the Case for Quality and offered advice to efficiently manage regulatory compliance. Throughout the discussion, she will have an interactive conversation with Mark Turner. Mark will reveal how Alcon addresses their … [ read more ]

    Live Interview – Medical Devices: Making the Right Choice — Your Case for Quality
  • This eBook shares survey results analyzing companies' ability to hit new product development (NPD) targets, then offers seven practical tips identified by the research as best practice processes, organization, and technology leveraged by the top performing product developers. The research provides recommendations to companies based on the approaches taken by the Top Performers, those that are able to outperform their competitors in revenue growth, margin expansion, and delivering innovative products to market. Please enjoy the summary below. For the full report, please visit our sponsor Autodesk (free … [ read more ]

    7 Ways to Outperform Your Competitors in NPD (eBook, survey results)
  • Medical Device companies have the opportunity to leverage digitalization and the digital enterprise to develop innovative products and bring them to market quickly. Watch this edition of Tech-Clarity TV to learn about the digitalization opportunity and stay tuned for the rest of the series detailing specific business improvement opportunities including: Digital design Digital design transfer Paperless manufacturing The video shares how medical device manufacturers are embracing digitalization and gaining significant benefits including faster time to market, increased quality, and improved … [ read more ]

    The Digitalization Opportunity for Medical Device Companies (video)

Preparing Industrial Equipment Manufacturers for Growth

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Tech-Clarity Insight IE InnovationPreparing Industrial Equipment Manufacturers for Growth: Innovating Future Product Lines with Higher Margins 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.

Please enjoy the summary below, or click the report or title to download the full PDF (free of charge, no registration required).

For for more information on improving innovation processes, please visit our sponsor, Autodesk. 

Table of Contents

  • Executive Overview
  • Why Should IEMs Care about Innovation?
  • Clarify the Meaning of Innovation
  • Identify Challenges that Hurt Innovation Success
  • Establish a Culture of Innovation
  • Invest in the Concept Phase
  • Define Processes
  • Take Advantage of Available Technologies
  • Conclusion
  • Recommendations
  • About the Author

Executive Overview

The industrial equipment industry has evolved significantly over the last few decades. Today, increasing global competition makes it very difficult for industrial equipment manufacturers to differentiate themselves. In addition, with growth in emerging markets slowing down, and the ability for fast followers to quickly copy incremental improvements, industrial equipment manufacturers looking to grow, need to develop new strategies. With this in mind, it is not too surprising that past research from Tech-Clarity, Best Practices for Developing Industrial Equipment, finds that differentiating products through innovation is the top reported business strategy, reported by 45% of industrial equipment manufacturers.

Joy Global, a leader in high-productivity mining solutions, stresses the value of innovation to their business. Says Chris Flynn, Director of Engineering of Underground Mining at Joy Global, “Innovation is a key part of our business. It enables us to grow in new areas and prevents erosion of our current market position.” Flynn also comments on how it helps them remain competitive. “Other companies copy us. As time goes by, copied products and parts become commodities. Innovation is critical to competitiveness.”

While innovation is critical to future success, the challenge is that industrial equipment manufacturers need to focus their limited resources on on-time delivery requirements and getting products out the door. This consumes so much time and effort, it can be very difficult to spare resources for innovation. This is particularly true for transformative innovation, which consists of breakthrough innovations that can lead to the biggest growth opportunities, but may also represent more risk.

This paper examines how companies can transform themselves to enable greater focus on transformative innovation to help them meet their goals for profitable growth. The report discusses how innovation starts with a culture of innovation. In addition to culture, with the right processes in place, companies can ensure they stay focused on the innovations that have the greatest chance of commercial success. Technology also plays a key role in enabling innovation. With tools such as CAD and simulation tools, companies can explore more ideas in less time. This combination of people, process and technology will enable industrial equipment manufacturers (IEMs) make time for innovation, while remaining focused on the day-to-day activities of getting product out.

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