Innovation Engineering® is a scientific system and a mindset that enables never ending innovation by everyone, every day, resulting in increased speed to market and decreased risk. Innovation Engineering® (IE) enables a culture where everyone works together on “innovation”. IE can be applied to new products or services, new customers or markets, new business models, or internal system improvements. Innovation Engineering® is grounded in 27+ years of research and project work, and it incorporates the systems thinking mindset of Dr. W. Edwards Deming through education, proven tools, and mentoring. IE is a systematic approach to align strategy, create innovative ideas when needed, persuasively communicate ideas, rapidly test ideas with quantitative research, patent ideas and take ideas to market quickly and with decreased risk.
We define “innovation” as meaningfully unique products and services that customers are willing to pay more for than price-driven commodities. Multiple research studies conducted by Georgia Tech in recent years have shown that if you want to increase profit margins, a primary business strategy of innovation beats strategies of low cost, voice of the customer and improved service by a margin of 2 to 1. The challenge is while many business leaders know they need to innovate in order to stay ahead, they have had no clear method for HOW to innovate. Innovation Engineering® provides a systematic and repeatable method that provides your company or enterprise with increased speed to market (up to 6X) and decreased risk (30 – 80%) – necessities in today’s new marketplace reality of increased competition, faster innovation and rapidly changing technologies. IE applies systems thinking through education, tools, and mentoring that enables innovation by everyone, everywhere, every day. Innovation Engineering® provides: 1) an ‘Operating System’ and Structure for innovation AGREEMENT (innovation need, plus What and Why); 2) a proven innovation SYSTEM (method for How to innovate); and 3) a LEARNING Mindset (work smarter, not harder). Contact VMEC today for more information and a FREE Innovation Systems Survey and Innovation Culture Assessment. VMEC has been assisting Vermont manufacturers and other enterprises increase their revenues and profits through Innovation Engineering® since 2006. VMEC is also a founding member of the growing international Innovation Engineering Network, and we have experienced IE Black Belts on staff to help your company accelerate profitable growth.