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2006-01-08 News Headlines
Tooling supplier Kennametal recognized by APQC for practices in innovation Kennametal a leading global supplier of tooling, engineered components and advanced materials recognized by APQC as a best-practice partner for the second year in a row.
APQC a nonprofit organization and internationally recognized leader
in benchmarking, knowledge management, measurement, and quality programs
announced that Kennametal Inc. (NYSE: KMT) has been named one of six best-practice
partners for outstanding practices in innovation. Kennametal was recognized for efficiencies in ACE (Achieving a Competitive Edge), the stage gated process for bringing new products to market, PPM (Performance Planning and Management) process and the company's overall innovative culture after surveying 100 major corporations in the United States known for their innovation. In the past decade, APQC has conducted more than 130 consortium learning
studies with a focus on helping organizations improve productivity and
quality. APQC's benchmarking studies provide participants a proven way
to assess emerging trends, identify best-practice approaches, and connect
with others around topics of mutual interest. Each time APQC convenes
a consortium to study a business process or issue, a select group of organizations
are chosen to serve as best-practice partners. These organizations exhibit
exceptional performance or employ innovative approaches in the research
area, and are studied in depth to help APQC and study sponsors identify
the best practices and processes that have driven their success. "We are very excited to be recognized by APQC as a best-practice
partner for the second year in a row," commented Kennametal Chief
Technology Officer, Dr. William Hsu. "At Kennametal, we have a continued
focus on the Kennametal Value Business System (KVBS) which consists of
six core processes by which we run our business. These processes, in addition
to endless commitment to our values, ambitions and code of ethics, enable
us to foster innovation and provide continuous improvement to our customers."
"Innovation at Kennametal is not just technology or R&D; it's an entire process of delivering ever-increasing value to our customers," commented George Coulston, Kennametal Director, Breakthrough Technologies. "Innovation is present in everything we do across the corporation. Our 14,000 employees in over 60 countries worldwide deliver innovation to our customers each and every day. We are delighted by this distinction and look forward to sharing our best practices with other companies." Other organizations selected as a best-practice partner by APQC included Bausch & Lomb Inc., IBM Corp, Clorox Company, Mayo Clinic and Procter & Gamble. APQC also recognized Kennametal as a best-practice partner for innovative performance in R&D Productivity in December 2004 in honor of its ACE process for new product development.
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