Product innovation is the lifeblood of western companies. The percentage of revenues from recently-introduced products is often a key competitive differentiator. So is the percentage of research and development expenditure relative to revenue, or to gross domestic product, if comparing countries.
Yet, shorter product cycles, more complex designs, and the need to create innovative products for emerging economies have led smart companies to leverage talent in China and India for product development and research.
Western research and development executives are forced to make difficult choices between security of intellectual property, quality of employees, education levels of new hires, and control of schedules and resources.
At Amritt we are experts at resolving these seeming contradictions in the context of global innovation.
Timely and cost-effective product development often means seeking resources outside the company confines. This can range from outsourcing non-core activities to co-development and collaboration. In addition to being excellent places to find these resources, India and China are also the locales where many new products are targeted. Global innovation today benefits the automotive, aerospace, medical, software industries, among many others in achieving these multiple objectives.
At Amritt we help our clients to target development time and cost using our staged PRnDL approach for risk mitigation and maximum results. We help companies of all sizes to set up and manage global innovation via their internal or external research and development teams. If appropriate, we help find, select and manage vendors or partners who are capable of handling product development needs in the right area of the client’s innovation Value Chain.
This help includes feasibility analysis of the product development pipeline, guidance in selecting executives who lead the globalization effort, evaluating choices for location (country, city, and neighborhood), or choosing the low risk product development initiatives to get started.
Register to download our white paper on global collaboration for additional insights into this. We also speak on the subject at forums such as the Management Roundtable and the Product Development and Management Association (PDMA).
To meet today's challenges, many companies design products considering the impact of global innovation. Considering global innovation, empowers a company to think about unique products for markets such as China and India while also leveraging resources in these countries for developed markets in the West.
SMT discusses Amritt Report on R&D Globalization
"More than two-thirds of U.S. companies expect to deploy some R&D personnel in India this year, whether directly or via outsourced vendor partners, according to a report by Amritt, Inc.. China ranked next among emerging economies with over 40% of respondents reporting plans to deploy some form of R&D personnel there."
To hear more about our thoughts on managing R&D talent from India, see the video of our webinar, Using India's R&D Talent for Technology and Product Development.
Amritt in the News
Outsourcing Report: Speed to Market versus Low Cost Manufacturing - Medical Device Summit
Open Innovation: Manufacturers' Idea Factories - Thomas Net Industrial News