Smart Innovation Management in Product Life Cycle

The present paper proposes a framework for smart innovation management of the product using a Smart Knowledge Management System comprising Set of Experience Knowledge Structure (SOEKS) and Decisional DNA. This proposed system will allow the entrepreneurs and organizations to perform the innovation process technically and quickly as this framework will store knowledge as well as experiences of the past innovations done in various products. It will also consider the possibility of introducing the new technology into the product. In short it will act as the expert innovator capable of doing the innovation technically utilizing the past experiences and several possible options based on the priorities of the user.