BMGI Presents its Innovation perspective

on Product cost at
CII Manufacturing Innovation Conclave
www.bmgindia.com
Fousing on Product Cost:
Product Cost is gaining increasing importance and is a point of
differentiation in the market, with customers demanding More
for Less. With large external factors, beyond the control of
organizations, organizations now need to focus on controlling
internal costs that include manufacturing costs, quality costs etc.
Typically 80% of the manufacturing cost of a product is
determined once the design is finalized. Needless to say, marginal
reduction in product cost has a direct and huge impact on the
organizations profitability.
CII Manufacturing Innovation Conclave
Mr. Ambarish Raj
Mr. Ambarish Raj, Senior Principal Consultant & Business Head,
Breakthrough Management Group International (BMGI) unveiled
white paper Cost and Profit Redefining Traditional Model,
jointly with CII at CII Manufacturing Innovation Conclave at
Nashik, on 27th Aug14
Innovation Models & Tools
The traditional approach to reduce product cost has been
dominated by the functional cost assessment & value
engineering approach that often provides quick results but with
certain limitations. Thus, in order to maintain product value and
cost equilibrium, it is increasingly becoming important to shift
focus towards Innovation. It is the need of the hour to have a
radical change in the prevalent techniques for rationalizing
product cost and move towards leveraging the models and tools
of Innovation.
Innovation
Innovation is fast becoming the key lever, which can drive
organizations towards growth and sustainability in the long run.
CII Manufacturing Innovation Conclave
Innovation Various Models
Effective and Systematic use of various models of Innovations
like Job To Be Done (JTBD) and Outcome Expectations that
redefine the product design methodology, TRIZ- Theory of
Inventive Problem Solving that suggests mapping of abstracted
problems and their related solutions irrespective of their subject
matter and Bio-mimicry that seeks to map solutions offered by
nature into the product design are fast gaining popularity and
have reaped huge benefits for organizations that have
implemented them.
Need of Fundamental Changes
Andre Gide, Nobel Laureate in Literature (1947) once said, You
cannot discover new oceans unless you have the courage to
lose the sight of the shore. To make this happen, fundamental
changes are needed, accompanied by change in perspectives of
organizations. In a nutshell it is time to Innovate or die!
Get Entire White Paper
To get the entire White Paper, drop a mail to Nimish N Danani,
at nimishd@bmgindia.com
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