On October 24th MAGNET teamed up with Brouse McDowell to host the first Manufacturing Executive Session at Brouse’s offices in Akron. The speaker for this session was Joe Kanfer, CEO of GOJO Industries, who delivered an amazing presentation on how GOJO successfully innovates. Joe laid out his 5 key ingredients for successful innovation:
Drive out Fear
Innovative companies develop a culture of confidence not fear. They reduce negative repercussions that come along with employees presenting new ideas and/or offering ways to improve things. Joe’s statement was “don’t get stuck in the middle”, don’t let fear paralyze you. In order to successfully innovate, get out from behind the computer, go visit your customers, stop making assumptions and start asking them the questions directly.
Conduct Customer Research
Innovation comes from understanding the work processes of your customers, knowing how they operate (ethnography), and delivering value by solving their problems. While you are “driving out fear” study the environment of your customers, investigate how your products are used, and look for other opportunities. Other opportunities will present themselves if you analyze your products before use or shortly after use.
Watch Future Technology Trends
Innovation doesn’t happen in a bubble. Technology is evolving fast, you need to be ahead of the technology curve and have great timing to truly innovate. Joe has a people on staff at GOJO that study the technology trends in each of their key market segments, so the company can ideate along with the technology, not against it.
Manage the Hard Stuff and the Soft Stuff
Innovation is more than just technology, it needs to be humanized. Joe mentioned it’s not just the functional benefits of GOJO’s products that made the company successful, a large part of the success comes from the way GOJO’s products make its customers feel. Know the emotional aspects of your customer. For instance Joe initially wanted to call GOJO’s famous hand sanitizer “Flash” to brand the speed of sanitizing your hands. However, Joe finally settled on the name “Purell”, to brand the feeling the product makes the customer feel.
Fail Fast, Fail Cheap
Innovation requires less big ideas and more small ideas. Making small successes and failures along the way reduces the risk of having one very large failure later on. Joe’s policy is “on purpose, don’t be too prepared”. Presenting smaller ideas more frequently reduces the need to over invest in preparing.
Does your company use any of these innovation tactics? What other tactics do you use? For more information on the topic of innovation click here or give us a call at 216-391-7766
Article submitted by Bank of America For mid-market companies, business success and responsible growth aren’t mutually exclusive. In fact, prioritizing responsible growth is becoming increasingly important, and successful companies are making sustainability central to their growth strategies. Beyond good corporate citizenship, they are recognizing the intrinsic link between the strength of their business and that of the communities and economies in which they operate. Leading your growth with those goals in mind builds resilience and better solutions for the future. Consider the following: Responsible growth companies perform better. Companies that consider the impact of risks and opportunities on the environment, local communities and society may produce better financial results than those that don’t. Additionally, 90% of companies believe a sustainability plan is important for remaining competitive. Responsible growth companies attract investment. A 2016 study by MIT Sloan Management Review and Boston Consulting Group surveyed 3,000 executives and managers from more than 100 countries. Findings revealed that 75% of senior executives in investment firms agree that a company’s sustainability performance is materially important to their investment decisions, and nearly half would not invest in a company with a poor sustainability record. Ninety percent of executives see sustainability as important, but only
HEADLINE The survey definitively shows that product innovation leads to more growth, while “grow your own workforce” strategies will be needed to fill the major labor shortages hampering small manufacturer growth. Emerging technologies like the Internet of Things (IoT), 3D printing, and digital manufacturing are beginning to enhance innovation and productivity, but still have significant room for adoption amongst Ohio’s small manufacturing businesses. ABOUT THE SURVEY Under the direction of the Ohio Manufacturing Extension Partnership (Ohio MEP), MAGNET: The Manufacturing Advocacy and Growth Network conducted a thorough survey of Ohio’s manufacturing base. Contributing approximately 20% of Ohio’s jobs (and driving in some regions up to 50% of Ohio’s economy), and generating a disproportionate amount of export revenues and Gross Regional Product, manufacturing is critical to Ohio. Greater than 95% of Ohio’s manufacturers are small (under 500 employees), and these manufacturers need to remain competitive both nationally and internationally to ensure our economy’s health. Ohio’s Development Services Agency and the National Institute of Standards and Technology, which runs the MEP, recognizes the importance of this sector and fuels MAGNET and the Ohio MEP program to directly serve and support innovation, efficiency, and growth in small and medium manufacturers. What manufacturers need
How Virtual Reality and Augmented Reality Can Help Keep Our Engineers Safe and Our Manufacturing Strong Recall how difficult it was to put together complex LEGO creations when you were a child or helping a child. Now, picture assembling a fighter plane from a room full of parts. Even highly trained engineers can benefit from technology to help improve consistency and quality. Virtual reality (VR) and augmented reality (AR) are making near-perfect assembly a possibility in the manufacturing space. By wearing AR glasses that use cameras, depth sensors and motion sensors to overlay images onto the real working environment, engineers and factory workers can visualize the exact bolts, parts, part numbers and instructions on how to assemble a particular component correctly. Lockheed Martin began using AR goggles and improved F-35 assembly time by 30 percent, in addition to increasing accuracy to 96 percent. In order to remain competitive, businesses should consider the ways VR and AR can improve efficiency and supply chain productivity. According to a recent BofA Merrill Lynch Global Research report, AR platforms can provide companies up to 25 percent in cost savings on installation of equipment. Here are four ways VR/AR is disrupting the mid-market manufacturing space: