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Significance of the
Product Leadership Award
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Key Industry
Challenges
The Remote Field-Testing market is highly competitive with
several market participants offering different and unique
solutions. Adding to the competitive landscape, several
Chinese manufacturers are now flooding the market with
products that are competitively priced. These products,
however, do not possess the same quality as offered by other
well-established manufacturers but thrive on the price
consciousness displayed by customers in certain regions. |
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To overcome this challenge
companies need to display strong product leadership
strategies focused on providing better value to customers in
terms of product quality, backed by prompt after sales
services to resolve any issues related to product
maintenance. |
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Key Benchmarking
Criteria for the Product Leadership Award |
For the Product Leadership
Award, the following criteria were used to benchmark Russell
NDE System’s performance against key competitors:
• Product Features/Functionality
• Innovative Element of the Product
• Product Acceptance in the Marketplace
• Provides Customer Value Enhancements
• Product Quality |
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Decision Support
Matrix and Measurement Criteria |
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To support its evaluation of
best practices across multiple business performance
categories, Frost & Sullivan employs a customized Decision
Support Matrix (DSM). The DSM is an analytical tool that
compares companies’ performance relative to each other with
an integration of quantitative and qualitative metrics. The
DSM features criteria unique to each Award category and
ranks importance by assigning weights to each criterion. The
relative weighting reflects current market conditions and
illustrates the associated importance of each criterion
according to Frost & Sullivan. Fundamentally, each DSM is
distinct for each market and Award category. The DSM allows
our research and consulting teams to objectively analyze
each company's performance on each criterion relative to its
top competitors and assign performance ratings on that
basis. The DSM follows a 10-point scale that allows for
nuances in performance evaluation; ratings guidelines are
shown in Chart 2. |
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This exercise encompasses all
criteria, leading to a weighted average ranking of each
company. Researchers can then easily identify the company
with the highest ranking. As a final step, the research team
confirms the veracity of the model by ensuring that small
changes to the ratings for a specific criterion do not lead
to a significant change in the overall relative rankings of
the companies. |
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Best Practice Award
Analysis for Russell NDE Systems |
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The Decision Support Matrix,
shown in Figure 4, illustrates the relative importance of
each criterion for the Product Leadership of the Year Award
and the ratings for each company under evaluation. To
protect the interests of the award recipient’s competitors,
e have chosen to refer to them as Competitor 1 and
Competitor 2. |
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Criterion 1: Product
Features/Functionality |
Having pioneered the development
of remote field-testing (RFT), Russell NDE Systems has
always believed in providing its customers with
best-in-class performance through its products. Launched in
1988, the company’s Ferroscope® 108 was the only product,
globally, to provide testing of small-bore ferromagnetic
tubes. Instead of resting on its laurels, Russell NDE
undertook further development of this product to modernize
its design with new features and functionality to cover a
larger customer base. In 2000, the third generation
(Ferroscope 308) was released with new and improved
features, adding to its already reputable performance. In
2010, an eddy current testing (ECT) module was added to the
Ferroscope 308 to provide a complete package for
electromagnetic testing.
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A feature that stands out in
comparison with its competitors’ offerings is the number of
operating channels for both RFT and ECT modules. Ferroscope
308 has the highest number of operating channels in the
market, providing the best resolution for RFT and ECT.
Another feature that enhances Ferroscope’s functionality is
the operating frequency range. It provides frequencies from
10 Hz up to 12 MHz, which helps it perform inspection on a
variety of materials including non-ferrous tubes. |
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In line with the company’s drive
towards providing outstanding features, Ferroscope 308 comes
with highly sophisticated software, Adept-Pro™, developed
with a thorough understanding of customer needs. It provides
advanced features with an easy-to-use interface. One key
feature is the built-in report generator capable of creating
an MS Excel® compatible file for easy computer storage. This
allows comparison of up to 5 different data files on screen
for better trending analysis. |
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Criterion 2:
Innovative Element of the Product |
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Since its first sale in 1988,
Ferroscope has set the benchmark for innovation. It was
recognized by NRC/ASTech for innovation in industrial
research, 1993 and 2001. The current series 308 provides
additional capabilities for inspection in tubes with a
module for eddy current testing. Supplementing this module
is the increase in number of operating channels for remote
field testing module and the eddy current testing module.
The increased number of operating channels provides better
resolution, thereby enhancing the quality of inspection.
Weighed against the competition, Russell NDE offers an
unmatched blend of performance and usability with
innovation. |
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Criterion 3: Product
Acceptance in the Marketplace |
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Ferroscope 108 was the first
commercial product based on remote field technology and
Russell NDE Systems has maintained its leadership in this
market through a strong distribution channel of authorized
dealers and agents selling across the globe. Backed by
prompt technical support, Ferroscope found entry into the
market easily. In addition, several customers including
Acuren, Shell, and ATCO Power have rated Ferroscope as the
best instrument for remote field-testing. These references
coupled ith the advanced features of the Ferroscope
accelerated its market acceptance and has uickly grown
to be recognized as the leading instrument for remote
field-testing. |
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Criterion 4: Provides
Customer Value Enhancements |
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As with any technology-defined
industry, customer value enhancement is of vital importance
in this market. Russell NDE leverages its highly qualified
technical workforce to provide prompt customer service. This
is vital in keeping long-term working relationships with
customers. Ferroscope comes with excellent after sales
service options, covering various maintenance issues as well
as application assistance and on-site support. Russell NDE
insists on annual product calibration, supplemented with
regular filter changes by outlining specific maintenance
procedures. If these maintenance procedures are followed
without exception, Ferroscope can operate without failure
and with peak accuracy for as long as required. Another
feature that provides high customer value is the range of
operating frequencies. With one product customers can
inspect ferrous as well as nonferrous tubes; thus providing
unmatched value. |
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Criterion 5: Product
Quality |
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Russell NDE Systems works
closely with its clients to understand their requirements
and incorporate them into its products. The company’s
experience and considerable success in the Remote
Field-Testing market, gives the company intimate knowledge
of the market, which enables it to meet the current and
future needs of its customers. The company’s willingness to
incorporate the latest technology advances in its systems
has earned Russell NDE Systems a reputation for quality and
a loyal customer base that spans across the globe. The
company works closely with standard bodies like ASTM
ensuring its product meets the latest standards for safety
and quality. |
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Conclusion |
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Ferroscope 108 was the first
commercial product for remote field-testing and it has
maintained its leadership position by being a best-in-class
product for over 25 years. Russell NDE Systems has leveraged
its superior knowledge in the Remote Field-Testing space to
provide additional advanced features in its subsequent
series. Ferroscope 308 comes with additional channels for
eddy current testing making it a complete package for
inspection of ferrous and non-ferrous tubes from 0.25" to 8
inches in diameter. Based on Frost & Sullivan’s independent
analysis of the Global Remote Field-Testing market, Russell
NDE Systems is being recognized with the 2011 Global Product
Leadership Award. |
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The CEO 360-Degree
Perspect iveTM - Visionary Platform for Growth Strategies |
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The CEO 360-Degree Perspective™
model provides a clear illustration of the complex business
universe in which CEOs and their management teams live
today. It represents the foundation of Frost & Sullivan's
global research organization and provides the basis on which
companies can gain a visionary and strategic understanding
of the market. The CEO 360-Degree Perspective™ is also a
“must-have” requirement for the identification and analysis
of best-practice performance by industry leaders. The CEO
360-Degree Perspective™ model enables our clients to gain a
comprehensive, action-oriented understanding of market
evolution and its implications for their companies’ growth
strategies. As illustrated in Chart 5 below, the following
six-step process outlines how our researchers and
consultants embed the CEO 360-Degree Perspective™ into their
analyses and recommendations. |
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Critical Importance of
TEAM Research |
Frost & Sullivan’s TEAM Research
methodology represents the analytical rigor of our
research process. It offers a 360-Degree view of industry
challenges, trends, and issues by integrating all seven of
Frost & Sullivan's research methodologies. Our experience
has shown over the years that companies too often make
important growth decisions based on a narrow understanding
of their environment, leading to errors of both omission and
commission. Frost & Sullivan contends that successful growth
strategies are founded on a thorough understanding of
market, technical, economic, financial, customer, best
practices, and demographic analyses. In that vein, the
letters T, E, A and M reflect our core technical, economic,
applied (financial and best practices) and market analyses.
The integration of these research disciplines into the TEAM
Research methodology provides an evaluation platform for
benchmarking industry players and for creating
high-potential growth strategies for our clients. |
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About Frost & Sullivan |
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Frost & Sullivan, the Growth
Partnership Company, enables clients to accelerate growth
and achieve best-in-class positions in growth, innovation
and leadership. The company's Growth Partnership Service
provides the CEO and the CEO's Growth Team with disciplined
research and best-practice models to drive the generation,
evaluation and implementation of powerful growth strategies.
Frost & Sullivan leverages 50 years of experience in
partnering with Global 1000 companies, emerging businesses
and the investment community from more than 40 offices on
six continents. To join our Growth Partnership, please visit
http://www.frost.com. |
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Full text of the award in PDF |
Russell NDE Systems Inc. is the winner of a Frost & Sullivan 2011
Global Product Leadership Award in the Remote Field-Testing market
