How to Monetize Innovation in an Expedient Manner

By Mike K Williams, MESA Americas Board Member, Dow Chemical retired

Many companies today are challenged with improving the return on their existing capital investments.  Providing more sellable output from manufacturing facilities is the desire of all corporate executives.  One way to improve sales is to expedite the monetization of innovation through increasing the velocity of new products introduced into our factories.  One of the significant challenges to accomplishing this task is what is called “product fit”.   This involves matching the machine capability with the new product manufacturing requirements to successfully convert raw materials into finished goods in a profitable manner.