TORC

Developing an Innovation Factory

Multinational Electronics Company

Quick look

Torc established a roadmap to migrate the corporate mandate for this client’s Irish subsidiary from pure manufacturing to that of an innovation factory – delivering a constant pipeline of new products to sustain operations in the face of severe cost pressures.

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The Challenge

In the face of increased competition from regions with lower production costs, this client company had committed itself to introducing a higher-margin mix of customer-focused products. Torc Consulting Group was retained to study the changes required for the company to innovate at a frequency and scale to deliver on this mandate.

Torc Response

Management were facilitated in the development of a roadmap to migrate the company from a purely operations to an operations-innovations mode. This included working through a sequence of activities to:

  • Identify the higher-value global opportunities obtaining in their market
  • Analyse the range and potential of all new product ideas being currently worked on in R&D
  • Extend collaboration with academic institutions, technology partners and government agencies
  • Institute a system to ensure that all information pertinent to the sourcing of new licensing opportunities could be quickly acted on
  • Utilise existing manufacturing and customer relationship channels to actively stream information to the new product team.

Result Achieved

The company’s management radically re-oriented the organisation to pursue a larger share of the corporate responsibility for new product introductions and for proactively outsourcing some existing lower value product lines – building a more sustainable business model for the future.