Citation:
Keith Goffin, Marek Szwejczewski, Michael Sweeney, Colin New. Product innovation in UK manufacturing companies. International Journal of Manufacturing Technology and Management, Vol. 2(1-7), 2000, pp.620-632
Abstract:
In many sectors of the manufacturing industry, product innovation is an
important way for companies to achieve competitive advantage. Regular
introductions of new products can be essential, especially in fast-moving
markets. But how often do companies introduce new products? A database of UK
manufacturing plants was analysed to determine the innovation rates and typical
product development times in specific industry sectors. The results show a wide
spread in the development times and innovation rates even within closely defined
sectors - implying that some companies are particularly efficient at product
innovation whereas others need to improve. In addition, the research identifies
a number of key areas of innovation, which require further investigation, both
within the UK and on an international basis.