Technology roadmapping for the next generation manufacturing enterprise

Purpose For high technology companies, the successful acquisition and management of technology to enable the development and manufacture of innovative products is a key factor in their competitiveness. Seeks to present an integrated technology road-mapping methodology that enables management to define its technology requirements, taking account of financial and other issues, to assess proposed technology projects against these requirements and to create a balanced technology project portfolio. Design-methodology-approach The methodology consists of six steps or phases; the first three steps produce a set of technology requirements based on a company's business drivers, products and competitive position; the last three steps enable the creation and assessment of a portfolio of research and development projects. Findings Applications of the methodology in industry have demonstrated that the integrated nature of the process, from a derivation of technology requirements to investment decision making, improves the clarity and transparency of decision making. In particular, the linking of technology requirements assessment to portfolio generation makes it easier to justify the assignment of resources to technology assessment. Practical implications The methodology has been applied successfully in a high technology manufacturing environment. The formalized methodology ensures that assumptions and preferences have to be externalized and justified. In addition, the results of a road-mapping or project assessment session can be re-examined at a later date in order to ascertain the reasoning behind decisions taken. Originality-value An integrated road-mapping methodology is presented which utilizes both financial and non-financial including intangible factors to provide guidance and enable the objective selection and assessment of a portfolio of technology projects. This software-supported methodology has been applied successfully in high technology manufacturing companies.