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Innovation happens when an idea is implemented to create an impact. It has three elements: idea, implementation and impact. The impact is typically measured as either cost saving or an increase in revenue – both resulting in higher profits. Innovation in product companies (or OEM) is well understood and practiced. They have well established processes,

The emergence of competition (resulting in lower bill rates) as well as rising operational costs (wage, infrastructure, overheads) have put tremendous pressure on the margins of ESO companies. A popular method to retain/improve margins as well as to beat the competition is to improve productivity. Productivity initiatives are driven to reduce time taken to complete

There are several challenges faced by the ESO companies while attempting innovation. Challenge: Intellectual Property – Most of the work done by ESO’s is done directly for their customers on their products. Thus by default, they do not own the product. Any innovation that emerges as a result of the work carried out belongs to

ESO companies can take the following steps to grow up the value chain through innovation. LEAN/Six Sigma Most companies start their journey on process improvements through LEAN/Six-Sigma. This is a time tested method and has been adopted across all sectors. At QuEST, we started the journey in 2006-07. The Six-Sigma concept brought rigor in terms

The engineering services industry has evolved over the last 20 years in India. Currently there are approximately 6000 engineering services organizations in the country. Over this period, customer expectations and service offerings from suppliers have changed. After the success of IT outsourcing success, we saw many companies starting outsourcing their engineering efforts for various reasons: