Nov 2 2006
Kennametal Inc. announced today it has been named one of five best-practice partners for excellence in product development portfolio management by APQC, a nonprofit organization and internationally recognized leader in benchmarking, knowledge management, measurement and quality programs. In a survey process that included numerous corporations in the U.S. known for their portfolio management processes, Kennametal was recognized for efficiencies in research and development programs, specifically in regards to their Metalworking Products Council (MPC) used to consistently manage and prioritize projects and the Kennametal Value Business System (KVBS), both of which promote innovative culture at the company worldwide.
"We are very excited to be recognized by APQC as a best-practice partner for the third year in a row," commented Kennametal Chief Technical Officer, Dr. William Hsu. "At Kennametal, we have a continued focus on product development and portfolio management as we continue to grow strategically and aim for one third of sales from North America, one third from Western Europe and one third in the rest of the world. Commitment to our product development processes, the Kennametal Value Business System (KVBS) and our values, ambitions and code of ethics, enable us to continually develop our portfolio, foster an innovative culture and provide continuous improvement to our customers."
APQC and its sponsors for the Portfolio Management: Optimizing for Success consortium study visited Kennametal headquarters in Latrobe, Pennsylvania for a site tour and examination of the company's best practices. In September 2006, Kennametal was named a best-practice partner in portfolio management and participated in a knowledge transfer session held at APQC headquarters in Houston, Texas. Barry J. Novotny attended on behalf of Kennametal and presented materials on Kennametal's product development and portfolio management processes.