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Innovation for Small Manufacturers
For many large and small manufacturers, innovation in product development is often considered key to their business success. Increasingly, the best businesses are doing the following innovative activities:
Innovation for Small Manufacturers
All the above are making big differences to manufacturers, enabling them to differentiate themselves in the market place, providing them with a competitive advantage and ultimately leading to greater profitability. Innovation for Small Manufacturers includes both:
Innovation can include improvements to products, services and processes. It also encompasses both incremental and radical improvements. For example, product upgrades and new product launches, respectively.
Innovation is all about making improvements, by doing something differently. For customers, innovation generates more value, often by creatively coming up with new solutions. Whilst this is all good factual stuff, for small manufacturers the question is, what key factors can drive successful innovation?
In some ways innovation for small manufacturers is about setting an environment where new ideas can be created and thrive. It is complementary to R&D, where the ideas are then developed and honed into better products, services and processes. The most successful businesses innovate constantly – it’s not about a one-off upgrade, instead continual improvement is necessary to maximise the benefits.
Innovation for Small Manufacturers: Good ideas and learning tips from larger manufacturers
Next... The Importance of an Innovative Mind-set
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