Potential-based Evaluation for Initial Selection of Technologies

Due to the increasing internationalization of markets, rising cost pressure, and shortened product life cycles, manufacturing companies are facing increasing competition and innovation pressure. To secure competitiveness, the early development of new and innovative technologies and their implementation in the market as products or services is paramount. To use available resources for innovation efficiently, potentials of new technologies must be exploited at early stages. The main objective of this paper is to support companies in early decision-making processes regarding new technologies by providing a systematic approach to technology assessment. For this purpose, a model is developed which supports the evaluation of the technology potentials based on the limited information available at an early stage and, thus, creates the basis for an initial technology selection.