MANUFACTURING GROWTH THROUGH INNOVATION
“ Businesses are confident in their own ability to drive growth and they have identified a number of opportunities to help deliver it ”
– John Hammann , Industry Principal for Manufacturing , SAP UK
others take the primary stance of protecting themselves against risk . However , while investing in innovation is a calculated risk , it ’ s a risk that can bring benefits through improved business processes and product development .
Innovation nation While the current economic climate is a significant barrier for firms achieving immediate growth , interestingly it ’ s also the biggest driver in motivating businesses to innovate . Other significant drivers of innovation include changing customer demands , increasing sales and cost reduction / need for increased efficiency .
External pressures are forcing manufacturers to re-evaluate their processes and how they do business with their customers . It is how companies do business with others where organisations should place a greater deal of significance when looking to drive innovation .
In order to effectively innovate , it ’ s important for firms to build close relationships with their customers and also understand their customers ’ customer . Having greater visibility of the supplier-buyer network is not easy to achieve , but true innovation is often built from a solid understanding of industry dynamics , drivers and relationships .
In the modern manufacturing environment , being able to develop creative ideas , address new and complex problems and deliver innovative products and services to global markets will be the capabilities most coveted by both countries and companies . But even more essential for innovation to flourish will be access to a workforce capable of driving it . Next steps in innovation With a plethora of technologies now
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