Investor Innovation Forum

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Investor Innovation Forum

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Description:

Industrial innovation strives to restructure various production technologies in various areas to bring about structural changes in technical systems. Industrial innovation is a critical component of this process and plays a crucial role in the industrial sector's ability to propel economic and technological development. In order to remain competitive and satisfy changing client demands, it is crucial for companies in the industrial sector to constantly look for new ideas and methods of operation.

Industrial innovations' sources:

The modularization and system integration of technology and organisation are the roots of industrial innovation. The following factors, which interact to produce industrial upgrades, are modular enterprise competitiveness, knowledge generation, knowledge flow, modular choice, and absorption. Industrial advancements are driven by architectural and modular improvements.

Methods of Industrial Innovations:

  1. Creating innovative or enhanced goods or methods
  2. implementing new technology, such as automation or AI
  3. increasing the effectiveness of current processes through process improvement or the application of lean manufacturing principles.
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