Parag Raut, Senior Manager- Innovation Strategy

Parag Raut

Senior Manager- Innovation Strategy

Mahindra and Mahindra ltd

Location
India - Mumbai
Education
High school or equivalent, Management Studies
Experience
32 years, 8 Months

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Work Experience

Total years of experience :32 years, 8 Months

Senior Manager- Innovation Strategy at Mahindra and Mahindra ltd
  • India - Mumbai
  • My current job since October 1996

Achievements -
1. Holding 4 Patents
2. Six Sigma Black Belt certified
3. Winner of coveted “Teng Wang Pavilion Technology Award” from local government of China for technological contributions during 4 years tenure in China
4. Winner of “Mahindra Innovation Award” in Mahindra and Mahindra Ltd. competing representations from 0.26 million employees across the globe

Responsibilities-
Innovation projects related work:-
• Scan business environment to identify high gain opportunities for developing new product/ business, Conceptualize, Incubate & Execute pilots.
• Identify expressed and implied needs of customers through Qualitative Customer Insighting Technique and formulate solution strategies.
• Identify white spaces in current business & prepare groundwork to address them.
• Identify Quantitative Success Indicators, Qualitative Success Indicators (Value-in-Kind), Boundary Conditions & Scope for innovation initiatives/ projects.
• Self-initiate innovative product / service concepts to create product / services pipeline for future.
• Identify innovation opportunity on the current business canvas and do market sizing of the opportunity identified.
• Create digital platform for sharing challenges & ideas across employees of the organization.
• Create pool of external sources to create proof of concepts & validation. Undertake end to end execution right from identifying a source, finalize scope of work, making agreement, execution as per agreed milestone targets.

Related to Innovation Culture Building among employees:-
• Design & conduct workshops for changing mindset of employees, suppliers & other stakeholders in the business in view of challenging the status quo and find path-breaking tracks of thinking to improvise business and operational indicators.
• Front load employees with tools & techniques of innovation like Design Thinking, TRIZ, Biomimetic to proliferate Innovation Culture in the organization.
• Conduct workshops to help employees identify expressed and implied needs of customers through Qualitative Customer Insighting Technique and formulate solution strategies. Mentor employees to create Centre Of Excellence within organization for Business Excellence and Operational Excellence initiatives.
• Help employees to become self-reliant in view of articulating patent application by introducing them to self-search for Prior Art using websites like Patent Inspiration, Google Patent etc.

Scientific Assistant
  • January 1991 to January 1996

Designing
Robotic Systems
6 yrs 5 yrs7 yrs4 yrs7 yrs
• Conduct workshops to help employees identify expressed and implied needs of
customers through Qualitative Customer Insighting Technique and formulate solution
strategies.
• Help employees to become self-reliant in view of articulating patent application by
introducing them to self-search for Prior Art using websites like Patent Inspiration,
Google Patent etc.
Past work done in Farm Equipment Sector-
• Aesthetic and ergonomic improvements of Mahindra products. Eg- Designed 125kVA generator
for Mahindra Powerol. Design registration number 281422 at Intellectual Property of India (IPR) is
in my name.
• End to end product life cycle management right from Segmentation study, Identifying parameters
critical to customer, Product conformance & validation, Packaging & logistics, Debugging supply
chain issues etc.
• Conduct insighting, build personas, develop strategy for differentiated customer experience.
• Worked in China for 4 years as an expat for various initiatives of the organization like Frugal
engineering & Development of products for US exports from China. Eg- Improved local engine to
meet USA’s Environment Protection Agencies Tier IV standard. Made seaworthy shipments.
• Product certifications from certifying Govt agency for Initial Commercial/ Confidential Test for new
products before launch. Eg- Vehicle model registration at Automotive Research Association of
India-Pune.

Education

High school or equivalent, Management Studies
  • at Indian Institution of Industrial Engineers
  • January 2012

-

High school or equivalent, Industrial Engineering
  • at S.J.M. School of Management- IIT Bombay
  • January 2010

Diploma, Mechanical Engineering
  • at Shree Bhagubhai Mafatlal Polytechnic
  • June 1993

Diploma by Board Of Technical Examinations- Maharashtra State passed with "First" class

Bachelor's degree, Mechanical Engg
  • at Mazagaon Dock LtdBhagubhai Mafatlal Polytechnic
  • January 1993

courses: Executive General Management Program

High school or equivalent,
  • at National Council for Vocational
  • January 1986

Gokhale Highschool-

High school or equivalent,
  • at National Council for Vocational
  • January 1984

Gokhale Highschool-

Specialties & Skills

Innovation Management
Strategy Facilitation
Customer Insight
New Product Ideation
Idea Generation
ASSETS RECOVERY
AUTOMOTIVE
DEBUGGING
INSPIRATION
LOGISTICS
PACKAGING
RESEARCH
ROBOTIC SYSTEMS

Languages

Chinese
Expert
English
Expert
Hindi
Expert

Training and Certifications

Six Sigma Black Belt Certificate (Certificate)
Date Attended:
June 2021

Hobbies

  • Reading