Introduction of an innovation process within a medium sized company. The development of innovation products and services in the bearing industry

Abstract

The constant development of new bearing solutions is driven by the never-ending effort to improve the performance of applications. Bearings should be able to work at very high speeds but maintaining low operating temperatures. Further those machine components have to produce less friction and show high wear resistance. The above mentioned and further demanding requirements build the challenges of today’s bearing industry. In a competitive business climate, an organization's capacity for innovation is a crucial factor in ensuring its long-term success. Hence, it is mandatory to introduce the correct products to the market at the right moment with innovative, relevant benefits for customers. The thesis focuses on the current market situation and future possible challenges within railway and wind bearing segment. Among others it analyses the strengths, weaknesses, opportunities and threats of a medium sized bearing manufacturer, by means of a SWOT analysis. Further, the thesis analysis the company’s overall business strategy, taking into account the customer’s needs of the wind and railway market and considers innovative approaches and product solutions. The master thesis analyses state of the art innovation management tools, such as Stage Gate Model Process and sets the framework for a suitable innovation process and strategy, which can be applied for the development of innovative products at a mid-sized bearing manufacturer. Finally, this adjusted innovative process is applied in a case study which accompanies the development of a product solution for railway traction motors. This paper gives a comprehensive overview about the different development steps, which are supported by common Engineering methods, such as a thorough Design Failure Mode and Effective Analysis (DFMEA). Furthermore, different service innovations are discussed, such as augmented reality tools and innovative service apps.