Analysis of Factors Influencing Product and Process Innovation for Smart Manufacturing

Anilkumar Malaga and Sekar Vinodh

Chapter 5 in Innovation Analytics:Tools for Competitive Advantage, 2023, pp 99-115 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Manufacturing is becoming sophisticated, computerized and complex. Intelligent production presents obstacles and opportunities. Implementation of Smart Manufacturing (SM) is a challenge for industry practitioners. The introduction of smart factories involves significant innovation in processes. However, organizations face enormous hurdles in introducing smart factories in view of the structural change that needs to be competitive. Process innovation is the introduction of new or significantly enhanced methods of development or distribution. The prospects for the technical and economic growth of smart products are enhanced by technological advancements. Today, in order to secure a significant growth force, the automotive sector strives to enhance productivity through product and process advancements in combination with the latest technologies. Product and process innovation has to be done in order to implement SM in organizations. Certain factors will influence innovation for SM. This work focuses on the identification of appropriate factors influencing product and process innovation in smart manufacturing. Factors are prioritized using an appropriate multi-criteria decision-making approach. The identification and analysis of influencing factors of product and process innovation for SM are the novel contributions of this study. The study enabled industry practitioners to focus on factors of product and process innovation for smart manufacturing.

Keywords: Innovation; Analytics; Business Management; Product Development; Process Innovation (search for similar items in EconPapers)
JEL-codes: O31 O32 O33 (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9781786349989_0005 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9781786349989_0005 (text/html)
Ebook Access is available upon purchase.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9781786349989_0005

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().