Reigniting Manufacturing through Innovation
by: Barry Miller, President & COO, DVIRC
Innovation Engineering provides a systematic approach to commercializing new ideas
Manufacturing work is coming back from overseas – for those manufacturers with the ability to innovate technologies or products. The Electrical Engineering Times reported that innovative U.S. technology has been one of the underlying factors that has brought manufacturing work back from China. The importance of innovation also applies to the OEM supply chain. According to Dr. Irene Petrick, Managing Director of TrendScape Innovation Group and a Penn State University professor, “You need to transition from supplier to co-creator. OEMs want suppliers to provide insights on new materials, new designs and new ways of developing products or technologies.”
Minimizing Innovation “Fear”
For many companies, innovation is viewed as risky business. Even when the need to innovate is obvious, pessimism and fear often diminish the courage to take action. That’s often due to the lack of a systematic approach to making ideas real. Innovation Engineering is a new concept that provides a system and structure for getting the job done, by bringing the discipline of engineering to the world of innovation.
Increasing Innovation Speed
The Innovation Engineering Management System (IEMS) is a scientific method for accelerating more profitable products, services, customers, markets and processes. Developed and optimized by the U.S. Department of Commerce’s NIST/MEP System, the University of Maine and Eureka! Ranch, IEMS applies the system mindset and principles of Dr. W. Edwards Deming to innovation and growth.
According to Doug Hall, Innovation Engineering pioneer and founder of Eureka! Ranch, by using the system, companies have been able to get ideas to ﬁrst sale in 10% of the time, at 16% of the cost while doubling their odds of success versus how they worked previously. Innovation Engineering is a complete system where all elements of creating, communicating and commercializing work together in synergy.
A Path to Profitability
Meaningfully unique products and services make more money. For manufacturers, innovation can take you out of the commodity quagmire and give your company new life. Innovation Engineering provides a path to profitability by providing a structure for creating meaningfully unique services or products that are valued by your customers.
DVIRC and NIST/MEP will be sponsoring a 3-day Innovation Engineering conference November 12, 13 and 14 in Blue Bell, Pennsylvania. For information, visit www.dvirc.org. You can also learn more about Innovation Engineering by visiting www.eurekaranch.com