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Innovating Through an Economic Downturn

Manufacturers today are facing significantly stalled markets as a result of the current, global economic downturn. Many companies are experiencing weak demand and lower sales, and reacting with budget cuts and other efforts to reduce cost. This can have a particularly large impact on small to mid-size manufacturers that have to make difficult trade-offs between product innovation and cost control.

During this time, it is important to recognize that despite the reality of reduced budgets, companies that continue to invest in innovation and improve PLM capabilities will fare better during the economic downturn and beyond. This paper is aimed at helping companies develop an action plan that both recognizes the difficult reality that most manufacturers face today, and allows them to continue to invest in the future. Keeping these two priorities in mind will help these smaller manufacturers weather the current economic storm but also be prepared to capitalize on emerging markets during the eventual recovery.

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