Review on the existing condition of the company 

An innovative technique or strategy is an arrangement to develop a piece of the pie or benefits through item and administration advancement. In regards to making the arrangement, a development technique should likewise show whether an item improvement or an advancement approach is ideal (Strecker, 2009). A company in Europe Midland makes gearbox systems for the client. This company is located in the European continent and hence strategized to support the European market only. Supporting only the European market is a problem as the market accessibility by the company is limited.  It’s also a specialized company whose purpose is only on manufacturing activity alone. Manufacturing without marketing is a disadvantage to the company since they have no direct access nor contact with the customers. The industry, located in Europe is, however, not the main industry but a branch of the main. The offices, located in the United States of America, raise problems in communication hence lowering the productivity of the company in terms of business. (Office, 2013).

Review on the existing condition of the company 

This organization has had systems that don’t augment benefit hence the need to incorporate another creative methodology that will be embraced by the organization. The arrangement of the organization isn’t ideal for improving efficiency since there are a few limitations set up on the present branch in Europe. It is to be noticed that the principal workplaces and control of the whole procedure are done in the USA. (Lendel and Varmus, 2011).

Other latest technologies are Artificial intelligence, 3D printing, smart robotics in production, and all these results in maximized profit and reduced losses. Also, they improve on the quality of the work done since machines are more accurate and less prone to errors as humans are. They also result in reduced cost and high output. Unfortunately, currently, there is no flexibility in the functionality of the company. The lack of flexibility is due to the location of providers and managers in the USA. This resulted in miscommunication among the production teams in the UK.

The company has also been using degraded technology in its CAD software. It purported that it uses a CAD that is not up to date. Besides, none of the developed companies moving toward electronic communication uses the CAD.  Its, therefore,  impossible to favourably compete with these other companies. One of the company’s positive attributes is that it has systems built from components that can be redesigned and fitted to various engine models.

The company’s total performance, too, is enormous, which leads to a rise in the cost of production.

This write-up discusses another imaginative assembling system to be embraced by the organization. This methodology will bolster the organization’s exercises in supporting and improving its piece of the pie just as guaranteeing the business benefit. I will likewise consider the progressions the organization will make, the new office that they will make, and the approaches they will receive. To legitimize all moves that they will make by the organization and supporting the suggestions with suitable writing. (O’Regan, N., Ghobadian, A. and Sims, M., 2006)

OBJECTIVES

The objectives will cut over another imaginative assembling system that will help in improving efficiency to augment benefit and decrease the expense of creation (Uzun, 2001). These objectives are as follows, getting to stay profitable; this implies ensuring that incomes remain in front of the expenses. Concentrate on controlling costs in both creation and activities while keeping up employee preparing, hardware upkeep and new gear buying are right now efficiencies of the organizations. Excellent customer care consistently assists with holding customers and creating rehash income. By keeping the clients glad ought to be guaranteed as an essential goal right now by utilizing a fascination and maintenance. To improve support, we need a framework that keeps up a gainful and positive representative condition. (Wang and Chien, 2006).

Another objective is to maintain a healthy cash growth. This particular organization will require financing contacts if the capital is to progress the association. The organization ought to have the option to back itself over a significant stretch. Likewise, the organization must be prepared to manage change. Change amongst the executives is the way toward setting up your association for the development and making forms that adequately manage a creating commercial centre. A technique for progress is for the executives to make the association unique to address the difficulties of the industry named above. Another goal is to arrive at the consumers, most importantly, the correct customers. The business should change its methodologies by building up a new office. The new office should have the option to do showcasing and getting their client’s contribution to item changes. The client’s input is to comprehend client purchasing patterns, having the option to foresee item dispersion needs, and creating business organizations that will assist the business with improving the piece of the pie. Another goal is to improve profitability to boost benefits by receiving the most recent innovation.

Furthermore, the last goal is remaining in front of the opposition. An extensive examination of the exercises of the opposition ought to be a continuous target for the business with a sub departmental accomplishing that work to remain among the purchasers and enhance the income. The development technique has been characterized by distinctively by various creators. The advancement system is an original bearing of the organization’s way of dealing with the selection of destinations, strategies, and approaches.  The advancement system is, therefore, a means to thoroughly use and build up the creative capability of the venture.

A LITERATURE REVIEW ON THE INNOVATION STRATEGY

Manufacturing is the cornerstone of the various national economies across the globe (Warren, 2013). Consequently, the manufacturing sector the driver of economic growth and prosperity hence reducing poverty. However, one of the essential aspects that are also the keystone of manufacturing is innovation, whose link to the performance in the manufacturing sector is not adequately understood. The scope of this literature review is to restore clarity by delving into extensive research on the innovative strategy to be adopted by the company.  The review also aims to expand on the role that creativity plays in the manufacturing sector in the named business. The strategy argument, however, is focused on lowering production costs to maximize income by optimizing the capital. The in-depth address of the plan touching on the company’s objectives and how to accomplish them are:

INNOVATIVE STRATEGIES

The text will clarify in depth where the business is, where it needs to be in 12 months, and define market problems that will impact these criteria, and set target rates for them for 12 months.

Adopting a new and the latest technology strategy

Adopting new and latest technologies comes with advantages, one, competitive advantage. Adopting new technologies offers a strategic edge for company executives. It is not only valid on a personal and professional level, but also for the whole of their business (Stokic, D., 2007).

An executive who can understand and use the latest technical developments efficiently gives him or herself an advantage over other executives. Two, to avoid possible extinction. When a company, particularly in technology, doesn’t adapt to change, it can lead to the extinction of the business. Find Kodak and Nokia companies leading, respectively, the photographic film and cellphone industries. Kodak’s once successful and prosperous company fizzled after digital technologies took over for picture capture. The company was forced to restructure its bankruptcy. And thirdly, one of the reasons this company should adopt new technology is to prevent potential financial loss. Executives who do not encourage their employees and leaders in the business to adjust to new technology cause the corporation to fall from its current position. While the company does not go out of business entirely, it may cause a market leader to experience a loss of income and credibility.

It can have quite the opposite impact on a company and its position in the market to adapt to the use of new technologies. Think of a Hewlett-Packard style of business. HP started in the company of audio oscillators. It wasn’t until the 1960s and 1970s that it began to look like the tech firm it is today. After a more technological shift, it once again transformed in the 1980s, 1990s, and 2000s, when it extended into computer printing, storage, and service areas. Change is investable, and when this industry will keep the employees updated and their systems updated, there will be the highest chance to thrive and succeed.

Changes to adopt

Among the new innovative changes that the organization ought to embrace are: in the field of 3D printing. A 3D printed model is delivered utilizing added substance forms. The article is shaped in an added substance process by spreading out successive layers of material before the item is delivered. One can consider each to be these layers as a meagerly cut flat cross-segment of the possible objective. They accompany quick creation, exactness underway, and savvy.

Artificial intelligence robots. It’s the other latest technology to be adopted by the company. There are several of the latest fastest robots that use artificial intelligence. (Mohammed, Wang, and Gao, 2014). The benefit and reasons for implementing robotics and artificially smart robots are as follows and will improve performance. Industrial robots can perform these tasks faster and more effectively than humans, as they are designed and built to perform them more accurately. It is coupled with the fact that they are used to automate procedures that historically may have required more time and energy considerably to improve the productivity of production lines by using industrial robots. (Tesla uses automated robots to do his production of electric cars, this has always increased efficiency)

Improved quality: Numerous errands are esteemed to be excessively hazardous or difficult and tedious to be finished by people, so robots at that point will play out these tasks. Significant enhancement of the working conditions is realized with the introduction of industrial robots, as well as health inside factories and manufacturing facilities.

Increased profitability: The implications of the introduction of industrial robots are higher productivity rates with a lower cost per product, because it improves the efficiency of the operation, decreases the effort and time needed to complete it, while at the same time delivering better quality gearboxes.

Robotics have longer working hours: As human breaks are required each working day, disturbances emerge and capacities to focus progressively. Though robots can work every minute of every day at 100 percent limit and keep on working. By and large, an improvement of 40 percent in the presentation of a creation line happens when one primary individual is replaced by a robot playing out similar working hours, basically due to stamina. The robots frequently don’t take occasions or have unexplained unlucky deficiencies.

In addition to the incorporation of technology, the company ought to address customer service.

A strategy that sets up two new departments in marketing and taking care of the customer:

Market department and a customer innovation department.

These are the business strategies that the company will have to adapt so that they can achieve the initial plan and achieve the overall objectives. The departments will ensure that the customer value is pl first. While any number of variables can trigger a decision to modernize the named company, one clear objective is paramount: providing value to the customer. Every technology investment will increase the benefits for end-customers, whether by improved experiences, higher product quality, or operational efficiencies that lower prices and add value.

For the set time of 12 months, the company will start by creating a strong business case that demonstrates anticipated benefits and creativity for the modernization effort. The most significant results for consumers are explicitly listed (and agreed upon). Will articulate how each facet of the new system can contribute, with consistency and precision. It will be able to point to tangible changes in key indicators for success (Antonucci and Pianta, 2002).

The existing system of handling customers in the company is rigid and hence a need to create a flexible and fast system. In an ever-changing world, adaptation is required, requiring continuous innovation in goods, services, and practices. We must also have the versatility to ensure transparency for their processes. Past development frameworks clashed for features. We were very well structured to do one or two tasks, and the company adjusted to concentrate on one or two of those activities. When the company wanted to shift its emphasis, it was held back by system frameworks and processes. Many integrated systems today can be much versatile (Hsu, Y., 2011). They can easily handle an assortment of communication and configuration possibilities. So, look for modular systems that can accommodate a large variety of plug-and-play functions for your business — including those that have not yet been built or even imagined. By developing their skills for designing and deploying 12-month-ready IT systems that can flex for innovation as needed. Learn how to use them to reorient operations quickly while maintaining the level of user experience that consumers and workers at the company expect. (Lendel and Varmus2011)

The last subsection the company must look at is collaboration. Manufacturers are taking a close look at a partnership to promote innovation. Innovation does not happen in solitary confinement. Collaborative agreements should be made with manufacturers, consumers, and affiliate organizations. (Bessant, 1995) Manufacturers must collaborate with consumers for the production of personalized products and with product design suppliers. On the governance of the company, I would propose it to establish a devolved leadership and governance. With centralized management in Europe, it will give the company more options in fast decision making, giving a bigger picture of shares with everyone. People will own their work bringing the company to success.

Recommendations for a successful implementation of the explained strategy

It is essential to prevent further possible problems for the effective execution of the innovation strategy. Insufficient development of an innovative program, introduction of innovative approaches in the business is a common issue. However, each strategy is explained with a recommendation and how it’s to be implemented. The leaders and managers involved should have a take on the responsibility of upholding the new strategy and within the set limit of 12 months in implementation.

CONCLUSION.

This paper has proposed an innovative manufacturing strategy. Change is inevitable and hence needs of the change. Innovation policy must be embraced and implemented if successful research with innovation is to be done in the business. The proposed innovation strategy model offers new insights into the study of an internal system and the context in which the strategy is to be developed. The creation of an innovation plan would entail a shift in the company’s organizational structure. An important note, however, is that the Innovation Strategy is not only to be applied if it is successful. Its meaning is symbolic, something that offers laborers information on where the organization is advancing with innovation, what propels laborers, what is the pith of their occupations. Right now, explicit culture is a development procedure.

REFERENCE

1. Bessant, J., 1995. Innovation and manufacturing strategy. Chapters.10
2. O’Regan, N., Ghobadian, A., and Sims, M., 2006. Fast-tracking innovation in manufacturing SMEs. Technovation, 26(2), pp.251-261.
3. Noble, M.A., 1995. Manufacturing strategy: testing the cumulative model in multiple country contexts. Decision Sciences, 26(5), pp.693-721.
4. Raymond, L., and St-Pierre, J., 2010. R&D as a determinant of innovation in manufacturing SMEs: An attempt at empirical clarification. Technovation, 30(1), pp.48-56.
5. Lin, B.W., 2004. Original equipment manufacturers (OEM) manufacturing strategy for network innovation agility: the case of Taiwanese manufacturing networks. International Journal of Production Research, 42(5), pp.943-957.
6. Schroeder, R.G., Bates, K.A., and Junttila, M.A., 2002. A resource‐based view of manufacturing strategy and the relationship to manufacturing performance. Strategic management journal, 23(2), pp.105-117.
7. Brown, S., 1998. Manufacturing seniority, policy, and innovation. Technovation, 18(3), pp.149-162.
8. Dangelico, R.M., Pujari, D., and Pontrandolfo, P., 2017. Green product innovation in manufacturing firms: A sustainability‐oriented dynamic capability perspective. Business strategy and the Environment, 26(4), pp.490-506.
9. Santamaría, L., Nieto, M.J., and Miles, I., 2012. Service innovation in manufacturing firms: Evidence from Spain. Technovation, 32(2), pp.144-155.
10. Ezell, S.J., and Atkinson, R.D., 2011. The case for a national manufacturing strategy. Information Technology and Innovation Foundation, 29.
11. Dangayach, G.S., and Deshmukh, S.G., 2001. Manufacturing strategy. International Journal of Operations & Production Management.
12. Leong, G.K., Snyder, D.L., and Ward, P.T., 1990. Research in the process and content of manufacturing strategy. Omega, 18(2), pp.109-122.
13. Lendel, V. and Varmus, M. (2011) ‘CREATION AND IMPLEMENTATION OF THE INNOVATION STRATEGY IN THE CREATION AND IMPLEMENTATION OF THE INNOVATION STRATEGY’ (January).
14. Office, G. (2013) ‘THE FUTURE OF MANUFACTURING ’: Available at http://www.bis.gov.uk/foresight.
15. Uzun, A., 2001. Technological innovation activities in Turkey: the case of the manufacturing industry, 1995–1997. Technovation, 21(3), pp.189-196.
16. Wang, T.Y. and Chien, S.C., 2006. Forecasting innovation performance via neural networks—a case of the Taiwanese manufacturing industry. Technovation, 26(5-6), pp.635-643.
17. Stokic, D., 2007, June. The collaborative working environment for innovation in the manufacturing industry. In 2007 IEEE International Technology Management Conference (ICE) (pp. 1-8). IEEE.
18. Antonucci, T., and Pianta, M., 2002. Employment effects of product and process innovation in Europe. International Review of Applied Economics, 16(3), pp.295-307.
19. Hsu, Y., 2011. Design innovation and marketing strategy in successful product competition. Journal of Business & Industrial Marketing.
20. Mohammed, A., Schmidt, B., Wang, L., and Gao, L., 2014. Minimizing energy consumption for robot arm movement. Procedia CIRP, 25, pp.400-405.