• On Thursday, May 18 at 2:00 EDT, Michelle Boucher share best practices to improve the efficiency of simulation postprocessing. During this webinar,  Shawn Wasserman, simulation editor at ENGINEERING.com, will join Michelle. This webinar will reveal: Common challenges during the postprocessing phase Best practices to overcome those postprocessing challenges Case studies demonstrating the benefits of efficient postprocessing   Register for this event today.   … [ read more ]

    Webinar: Solving the Bottlenecks of Simulation: Postprocessing – May 18, 2PM ET
  • The How-to Guide to Adopting a New 3D CAD  shares best practices for changing from one 3D CAD tool to another. The guide shares the reasons you should consider making a change, potential benefits of making a change, and advice for selecting a new tool. The guide then goes deeper into the steps you should take to plan a migration, training resources, what to do with legacy data, and how to prioritize what legacy data you convert. These best practices were developed by analyzing the responses of those who were very satisfied with their transition process. Their responses were compared to the rest to identify … [ read more ]

    Adopting a New 3D CAD (survey findings eBook)
  • Are you making your products smarter? Are you feeling pressure to add software and electronics? Please share your experience, thoughts, and lessons learned  in this new survey on transforming product design to develop smart products. The survey explores challenges you should be aware of, the impacts of those challenges, and how to avoid them. We will explore questions such as: What strategies should you consider when developing connected products? What challenges should you be aware of when designing the PCB? How do you overcome electrical wiring challenges? We would like to learn what you find hard … [ read more ]

    Transforming Product Design for Today’s Smart Products (survey invite)
  • Jim Brown joins Autodesk's Michael Vesperman during this Engineering Live panel discussion moderated by Janine Mooney, Editor in Chief at Advantage Business Media. Jim and Michael share insights from recent survey results and customer experience in an interactive discussion on NPDI.  They share NPD best practices and technology including 7 things that Top Performers in NPDI do differently than the rest. Register for the May 17 event now! … [ read more ]

    Beating the Competition with New Product Development and Introduction (webcast)
  • The Design Data Management Maturity Improves Profitability, Analyzing Best Practices for Managing Designs report shares fresh survey data and interviews. It updates our design data management research to cover new trends like using cloud file sharing applications to manage data. It also drills down on the topics of complexity and non-value added time spent managing design data, and shares metrics on the business improvements available from design data management best practices and technologies. Please enjoy the summary below, or click the report or title to download the full PDF (free of charge, no … [ read more ]

    Design Data Management Maturity Improves Profitability (survey report)

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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