MAGNET and Lincoln Electric Present the Process to Product Ownership
MAGNET recently visited the Lincoln Electric corporate headquarters to host a fun and informative day of presentations and networking, all themed around the journey from being a contract manufacturer to becoming a product owner.
Ethan Karp, VP of Client Services and Marketing for MAGNET and the director of MAGNET’s Partnership for Regional Innovation Services to Manufacturers (PRISM) program, opened the event by touching on the four D’s of the product process: Define, Discover, Develop and Deliver. Karp then introduced three presentations from three manufacturers who shared their stories of successful innovation.
Larry Jutte, president of Ernie Green Industries, Inc., spoke of his company’s medical device subsidiary eNNOVEA life and pushing a product vision completely forward. Jutte noted that there are great opportunities when “ideas are sitting on the shelf” by having a focal point for a product innovation and determining partnership relations to fill in any gaps.
Chris Carroll, president of Flavorseal, told how he and his wife Colleen began as Carroll Manufacturing and Sales, manufacturing netting for food processing. Over time, the Carrolls increased their facility sizes, customer base and margin through determination and innovation in the food packaging industry. With unique flavor packaging for meats and other foods now available from Flavorseal, Carroll noted that “innovation can happen anywhere.”
Asad Khan, chief technical officer of Kent Displays, explained in-depth the process his company traveled to bring their advances in eWriter tablets to market. Khan explained the great importance and difficulty of learning and practicing every step of the logistical path from supply chain to retail placement to warehousing and everything in between.
After an open Q & A session with Khan, Carroll and Jutte, Tom Matthews and Steve Sumner of Lincoln Electric then spoke on what has made their company successful.
Sumner, Lincoln Electric’s director of Global Marketing, spoke about global segmentation and having industry segment managers to help drive results, focusing on existing products while anticipating new ones.
Matthews, Lincoln Electric’s senior VP of Research and Development, spoke about the R & D process and the importance of “seeing through the stakeholder’s eyes,” being their advocate and internalizing their needs as they look to new innovations.
After the presentation, all in attendance were invited to a tour of Lincoln Electric’s machine division plant and a follow up Q & A session with Matthews and Chris Bailey, Lincoln’s VP of Automation.
To find out how you can attend MAGNET events like this one in the future, please contact clare.crawford at 216-432-5312 or stay connected through our Facebook, LinkedIn, and Twitter pages.
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