Kennametal Inc. announced today that it has been named one of five best-practice partners in new product and service innovation for improving front-end effectiveness by APQC, a nonprofit organization and internationally recognized leader in benchmarking, knowledge management, measurement and quality programs. In a survey process that included numerous corporations in the U.S. known for their excellence in new product development, Kennametal was recognized for its world-class product development processes such as ACE (Achieving a Competitive Edge), and the effectiveness of best practices in the early stages of innovation.
"We are thrilled to be named a best-practice partner by the APQC for the fourth time," commented John R. Tucker, VP & Chief Technical Officer. "This recognition showcases our best-in-class product development processes and our commitment to developing industry-leading breakthrough products by leveraging our extensive technology."
APQC and its sponsors for the New Product and Service Innovation: Improving Front-End Effectiveness consortium study visited Kennametal headquarters in Latrobe, Pennsylvania, for a site tour and examination of the company's best practices. In November 2008, Kennametal was named a best-practice partner in improving front-end effectiveness and participated in a knowledge transfer session held at APQC headquarters in Houston, Texas. Barry J. Novotny, Kennametal Business Manager of Corporate Technology and the Global Steward of the KVBS New Product Development Process, represented Kennametal at the session, and presented materials on Kennametal's product development processes.
APQC previously has recognized Kennametal as a best-practice partner for portfolio management in 2006, innovation in 2005 and R&D productivity in 2004.
Kennametal Inc. is a leading global supplier of tooling, engineered components and advanced materials consumed in production processes. The company improves customers' competitiveness by providing superior economic returns through the delivery of application knowledge and advanced technology to master the toughest of materials application demands. Companies producing everything from airframes to coal, from medical implants to oil wells and from turbochargers to motorcycle parts recognize Kennametal for extraordinary contributions to their value chains. Customers buy approximately $2.7 billion annually of Kennametal products and services - delivered by our 14,000 talented employees in over 60 countries - with more than 50 percent of these revenues coming from outside the United States. Visit us at http://www.kennametal.com/. [KMT-G]
A global resource for process and performance improvement, APQC helps organizations build better ways to work, adapt to change and succeed in the marketplace. Each time APQC convenes a consortium to study a business process or issue, a select group of participating organizations are chosen to serve as best-practice partners. These organizations must have exhibited exceptional performance or employed innovative approaches in the research area, and are studied in depth to help APQC identify what elements are keys to their success. APQC's experts guide the process, conduct the research and develop a formal report for approximately one-tenth the cost of one-on-one benchmarking. Founded in 1977, APQC is a member-based nonprofit that serves more than 500 organizations in all sectors of business, education and government. For more information, visit http://www.apqc.org/ or call 800.776.9676 or 1.713.681.4020.
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