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|FOR IMMEDIATE RELEASE
January 31, 2012
For more information please contact:
Tel: (603) 226-3200
NH MEP Announces 4th Annual Innovation Institute for Manufacturers
CONCORD, NH - Emphasizing that innovation is the most profitable business strategy for manufacturers, the New Hampshire Manufacturing Extension Partnership (NH MEP) today announced that it will cosponsor the 2012 Innovation Engineering Leadership Institute. The Institute is designed to guide business leaders through the innovation process and provide access to the latest analytic tools.
“The last two Innovation Engineering Leadership Institutes held in February and August 2011 were enormously popular and both sold out. The recognized value of these workshops has prompted NH MEP to once again cosponsor the Institute, so that New Hampshire manufacturers can acquire the hands-on skills to spur innovation and growth,” said Zenagui Brahim, director of the NH MEP.
The Innovation Engineering Leadership Institute is a three-day event designed for senior managers in business, entrepreneurs, inventors and economic development professionals. It teaches business leaders a proven, systematic process for speeding innovation and reducing risk.
“The Institute is valuable because it guides participants through the innovation process and provides coaching and access to online tools that can help companies achieve bottom-line results.” Brahim stated.
Brahim pointed to the widespread recognition of innovation’s importance as a business strategy.
“Innovation is one of the greatest challenges facing small manufacturers. National surveys of MEP clients find that innovation and new product development is one of the highest needs of small and mid-size manufacturers,” the NH MEP Director stated.
Two recent studies by Georgia Tech have demonstrated that innovation is the most profitable primary business strategy, compared to low cost, fast delivery, voice of the customer or quality strategies. In fact, the three-year average profit margin of companies with a primary strategy of innovation is more than 50 percent higher than for companies competing with a primary strategy of low price.
“A sound business strategy needs to include innovation,” said Brahim. “Manufacturers that develop an internal culture and business processes that foster innovation are capable of succeeding in even the most challenging business climates. But innovation doesn’t come easily or naturally for most companies. It requires specialized training. That’s why we’re excited to be able to promote this initiative and bring New Hampshire manufacturers and inventors some of the best products and most advanced thinking about how companies can meet the challenge.”
The Manufacturing Extension Partnership has negotiated a significant discount for NH MEP and other MEP Center clients and partners. The registration fee includes all course materials and breakfast and lunch for each day of the conference. Participants will receive 3.0 Continuing Education Units (CEUs) from the University of Maine for their participation in the program if they choose to apply.
To register for the March 19 - 21, 2012 conference or for further information, visit http://www.ieli-vermont.mepevents.com or contact NH MEP at 603-226-3200.
About NH MEP
The NH MEP is an affiliate of the National Institute of Standards and Technology (NIST) under the U.S. Department of Commerce. The national MEP system is a network of manufacturing extension centers that provide business and technical assistance to smaller manufacturers in all 50 states, the District of Columbia and Puerto Rico. Through MEP, manufacturers have access to more than 2,000 manufacturing and business “coaches” whose job is to help firms make changes that lead to greater productivity, increased profits and enhanced global competitiveness. For information on the MEP Lean Energy and Environment program, please visit www.nhmep.org, or phone 1-800-MEP-4MFG.