Need to adopt innovations for better result prod

Chennai, Dec 20: Executive Vice-President of American MarketingScience Inc USA Gerald M Katz stressed the need for adopting severalinnovations for better result production and other aspects of theindustries, as well as protecting customers interest.

The innovation comes in many forms like topics and flavoursnamely, technological, product performance, business model, supplychain, business process, service, customer experience and theincrementalism innovations, Mr Katz said delivering a special talk onvoice of the consumer at the inaugural session of the three-dayinternational conference on innovation and new product developmentorganised by the Product Development and Management Association (PDMA)here last night.

In his address, city-based Rane Group of companies Chairman LGanesh called up on the Government to reform the primary educationsystem in order to suit the present industrial environmental scenario.

Stating that the interaction between industries and theuniversities was inadequate, he said called for enhancing interactionsto a substantial level to boost industrial production as well as toincrease technological knowledge.

Lamenting that there was a lack of venture capital funding amongindustries, he said 'we should take note of this and pay greaterattention on it. He wanted more awareness be created on understandingIntellectual Patent Rights (IPR) and how to manage it.

Inaugurating the conference, C Narasimhan Advisor, AutomativeComponents Business, Sundaram Clayton Ltd, Chennai said manufacturingoutsourcing export companies were likely to source more value-addedproducts from India than from competeting countries.

''Since India has the the global hub edge for value-addedproducts/services, we should utilise this opportunity in a propermanner,'' he added.

He wanted the PDMA to help Small and Medium enterprises (SMEs) byproviding them with domain knowledge and other required training onproduct development.

UNI