What is the critical missing link between new product introduction and sourcing for highly engineered products? Driving innovation through greater collaboration & visibility with key suppliers to enhance the quality of product designs.
Supply Chain Insights just concluded a study, sponsored by Directworks, aimed at understanding how well discrete manufacturers collaborate internally and externally with strategic suppliers with an emphasis on New Product Introduction (NPI).
We wanted to understand how companies are managing the intersection between Innovation and Sourcing, what they think is working, what is not and what can be improved.
The study results revealed that innovation through greater collaboration and visibility for internal cross functional stakeholders and the strategic supply base is the critical missing link in:
- Bringing in key suppliers earlier in the design and innovation process
- Achieving target costs for sourced components
- Increasing speed to market for new product launches
- Validating supplier quality and capacity to avoid NPI failures
- Gauging new supplier viability
Yet, is this innovation opportunity even on the radar of top executives in the space? What approaches and technologies are companies using to enable greater collaboration and visibility in their NPI processes today? What are the recommendations based on the maturity of today’s market?
Download the 45-minute replay of the webinar and hear Lora Cecere, CEO and Founder of Supply Chain Insights, share the results of the study, what they mean for discrete manufacturing, and how your organization can benefit from the findings.