ITT (NYSE: ITT) Defense and Information Solutions President David Melcher penned a column for The Huffington Post to discuss the leaner nature of the defense contracting business.
Melcher pointed out that success in the future will depend on a firm’s ability to not only present needed innovation, but also to create a cost-effective solution.
“Those companies that will be successful in helping the Pentagon meet its short-and long-term challenges are the ones that are rethinking how they do business, ” he wrote. “Proposing and designing expensive new systems may no longer be a realistic approach. Instead, providing advancement and affordable new directions for proven technologies will be the key to success.”
Melcher reports that ITT is focusing not only on this method of business, but also to the need to get solutions to the soldiers in the field:
“We are not only working internally to improve our own efficiencies, but are focusing on ‘spiral developments’ that are significantly less expensive to pursue, and can be developed and delivered to the warfighter more rapidly and effectively, ” he said. “By integrating proven and available technologies and open architectures to meet existing capability gaps and requirements, we can meet Sec. Gates’ clarion call and deliver more affordable solutions to the battlefield.”
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