Necessity may be the mother of invention, but competition is the mother of innovation. Product lifecycles continue shortening while supply chains continue to get more complex and volatile in terms of supply assurance, pricing, and increasingly stringent compliance requirements from customers, regulators, and Non-Government Organizations (NGOs). Manufacturers need to innovate on multiple dimensions, and this innovation is increasingly digital (e.g., “smart” homes, cars, industrial machines, etc.) and externally sourced from exploding supplier ecosystems. As such, the need for managing supplier innovation has never been greater.
Supplier innovations are taking many forms: shrinking computer chips, sustainable materials/packaging, embedded digital monitoring, subscription-based service offerings, etc.
Download this whitepaper and learn how these innovations are changing the overall design of the supply chains that make the products in order to deliver the “triple bottom benefits” of profits, people (social responsibility), and planet (environmental sustainability).