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Global competition has caused fundamental changes in the competitive environment of manufacturing industries. Firms must develop strategic objectives which, upon achievement, result in a competitive advantage in the market place. However, for almost all manufacturing industries, increased productivity and better overall efficiency of the production line are the most important goals. Most industries would like to find the formula for the ultimate productivity improvement strategy. Industries often suffer from a lack of a systematic and consistent methodology. In particular the manufacturing world has faced many changes throughout the years and as a result, the manufacturing industry is constantly evolving in order to stay ahead of the competition. Innovation is a necessary process for the continuous changes in order to contribute to the economic growth in the manufacturing industry, especially to compete in the global market

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