Need to adopt innovations for better result production

Chennai, Dec 20 (UNI) Executive Vice-President of American Marketing Science Inc USA Gerald M Katz stressed the need for adopting several innovations for better result production and other aspects of the industries, as well as protecting customers interest.

The innovation comes in many forms like topics and flavours namely, technological, product performance, business model, supply chain, business process, service, customer experience and the incrementalism innovations, Mr Katz said delivering a special talk on voice of the consumer at the inaugural session of the three-day international conference on innovation and new product development organised by the Product Development and Management Association (PDMA) here last night.

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

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

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

Inaugurating the conference, C Narasimhan Advisor, Automative Components Business, Sundaram Clayton Ltd, Chennai said manufacturing outsourcing export companies were likely to source more value-added products from India than from competeting countries.

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

He wanted the PDMA to help Small and Medium enterprises (SMEs) by providing them with domain knowledge and other required training on product development.

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