VAVE Idea Management Solution

Organizations time and again receive many new ideas from different stakeholders such as employees, suppliers, and customers. But they often do not realise the innovative potential of these ideas and where these ideas once implemented can take the organizations to greater heights. Some organizations use idea management tools, but often feel that the dashboards are set templates that come with inherent challenges – the tool may capture the idea but doesn’t evaluate and prioritize the idea as suitable for their business. It also lacks to provide required insights, to filter productive ideas. Some other prominent challenges are:

• Higher process lead time to run VAVE programs right from identification of focus areas till implementation
• Lack of end to end process visibility when working with multiple stakeholders for collaboration
• Lack of knowledge repository to digitise “Know how” of ideas for product cost reduction problems

Drivers of Higher Lead Time

• Broken communication between VAVE Cross functional teams and the rest of the employees or suppliers in the organisation

• Lack of traceability of end-to-end process steps

• Struggle to identify the right experts/SMEs for a specific problem

• Data (Cost, Volume & Market Forecast) lying in different IT systems in silos

• Lack of motivation from the employees & suppliers to provide ideas for product cost reduction