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Manufacturing engineering or production engineering is a branch of professional engineering that shares many common concepts and ideas with other fields of engineering such as mechanical, chemical, electrical, and industrial engineering. Manufacturing engineering requires the ability to plan the practices of manufacturing; to research and to ...
A cross-functional innovation management committee is a team of individuals from different company departments, including marketing, engineering, design, manufacturing, and research and development, who are responsible for overseeing and managing the new product development process. This committee helps to ensure that all aspects of new product ...
In the United States, a typical ratio of research and development for an industrial company is about 3.5% of revenues; this measure is called "R&D intensity". [citation needed] A high technology company, such as a computer manufacturer, might spend 7% or a pharmaceutical companies such as Merck & Co. 14.1% or Novartis 15.1%.
Innovative technology provide important opportunities for new business development. For a company it is important to keep products and processes up to date, to stay competitive (Ford et al., 2006). Continuous investment in innovation for both products and processes makes it more difficult for others to offer a large technological functionality ...
Innovation, although not sufficient alone, is a necessary prerequisite for the continued survival and development of enterprises. [10] The most direct way of business innovation is through technological innovation, disruptive innovation or social innovation. Management of innovation, however, plays a significant role in promoting technological ...
COI combines the previous concept of business cluster, enriched with new findings and analytical tools to better understand the level of dynamism of some clusters, above all Silicon Valley, the continued emergence of start ups, the continued generation of ideas and solutions and the "blooming" of more industrial fields within the cluster. [1]
Design for lean manufacturing helps a team “knit together” existing tools. For example, the following methods and business tools can be used by organizations within the design for lean manufacturing methodology: Value Stream Mapping, Design for Six Sigma, Visual Control, QFD, DFMA, and Taguchi methods.
Manufacturing USA (MFG USA), previously known as the National Network for Manufacturing Innovation, is a network of research institutes in the United States that focuses on developing manufacturing technologies through public-private partnerships among U.S. industry, universities, and federal government agencies.
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