If you’re looking to create product innovation in your organization, making cuts isn’t the answer. Yes, our economy isn’t rock-solid, but those who look to make cuts and strip away talent may actually hamper their companies’ abilities to innovate.
Before you decide to make any more cuts, let me take you through a few options and show you why innovation doesn’t mean compromising.
Controlling Chaos
Today’s economy is a fragile state, there’s no doubt about that. With this, manufacturers are now in a state of chaos. What do I mean?
Imagine manually entering data into your manufacturing system and planning to shell out more funds and allocate more time for manual data entry. Sounds crazy? For some manufacturers, it’s still a very real scenario.
Over the course of 2011, I’ve covered many topics here on the To-Increase blog. One of the more popular categories here is on Industrial Equipment Manufacturing (IEM).
Supply chain businesses and many other companies that view IT as a way to gain a valuable competitive advantage also understand they need to find the highest level of expertise and experience. One of the most important keys to IT success for any industry is hiring strong leadership—specifically a Chief Information Officer (CIO). What are the qualities of a CIO who can meet and exceed the IT expectations of executive leadership and company stakeholders?
Building customized products for customers can be big business, but many manufacturers increase lead-time and decrease productivity when they create one-off products.
Globalization of the marketplace has had an immense impact on the industrial equipment manufacturing business. Now manufacturers have more to worry about than domestic competition; we’re up against an entire world of ideas. Keeping on top of your game and being adaptable are vital to staying competitive and growing your company.
As we move into the fourth quarter, American Industrial Equipment Manufacturing (IEM) companies have reason to feel hope. This is not opinion or hyperbole. Rather, this is a statement backed up by the results of the eighth annual Prime Advantage Group Outlook (GO) Survey, which you can read more about in 
A rainy day requires preparation. But oftentimes, we need just as much preparation for when the waters recede.
