Ingersoll Rand executives talk about the company’s strategic initiatives to accelerate product innovation to create and deliver value to customers.
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As a global Fortune 500 company, Ingersoll Rand drives its corporation around three key strategic initiatives:
- Growth through innovation
- Operational excellence
- Driving a progressive, inclusive and diverse culture
The company’s product development strategy plays a key role in furthering these initiatives and delivering value to customers through new offerings and product improvements.
With a common information system, best practices and thought leadership can be shared throughout Ingersoll Rand, creating benefits that are felt throughout the customer value chain.
Video Transcript
Steve Hagood, VP and CIO, Ingersoll Rand:
Ingersoll Rand is a global Fortune 500 company providing products and services in the diversified industrial markets all the way from air conditioning units, to air compressors for industrial technology markets, to club car golf carts.
At Ingersoll Rand we really drive our corporation around three key strategic initiatives. One is around growth through innovation in emerging markets. A second is through operational excellence. The third is really driving a progressive, inclusive, and diverse culture.
I would offer that certainly our PLM strategy, our product life cycle management strategy, is really intended to help drive and further the strategic initiatives around innovation and operational excellence. I would offer, also, it absolutely helps to further our initiative around driving a progressive and inclusive culture as well.
Paul Camuti. Sr. VP for Innovation and CTO, Ingersoll Rand:
The greater Ingersoll Rand team is really charged with creating value and delivering value to our customers through new offerings that we deliver. The engineering and technology team really supports that goal, first of all by being engaged in understanding what the customers want, but also by delivering on our product improvements and our new product delivery.
Anthony Smith, VP Information Technology, Trane and Thermo King:
If you look across our portfolio of products and services and offerings that we take to the marketplace, it's a high level of options and complexities and a very, very wide breadth of products, if you think about it, in our commercial Trane business on the HVAC side as well as on the Thermo King business.
For our sales force and for our customers, it's about being able to understand all the capabilities, options, what's there, and the best way to solve their problem in the marketplace, because often times there are multiple ways to go solve that. As we look at that and we have that information available to us and we're able to better use and have confidence in the quality of the data that we've got, then it gives us the ability to automate and provide information and tools to our sales force, to our customers, and to our dealers in the Thermo King business. Which helps us first to make sure that we're solving their problem in the right way to start off with.
Steve Hagood:
The focus is on making sure we accelerate our innovative efforts to drive comfortable and sustainable solutions for our end customers, and then those end customers provide sustainable and comfortable solutions even down the customer chain.
In order to do that, we need that common information system that will allow us to actually focus on accelerating that innovation. Freeing up our engineers to focus on driving new products, new solutions, and a way to leverage the best practices and the thought leadership we have going on around the company rather than having to recreate something from scratch.