Innovation is essential for manufacturers to grow market share, develop new products, improve efficiency, and increase revenue and profits. But given the economic conditions of our time, fostering and maintaining a culture of innovation can get lost in the crush of meeting day-to-day operational challenges.

A global pandemic, supply chain disruptions, a labor shortage, and inflationary cost increases have converged to make the operating environment difficult, with the risk that developing new products and new technologies may become lesser priorities.