Abstract

OVERVIEW:New product development is becoming increasingly risky, expensive and reliant on disparate knowledge bases spread across multiple firms. Many organizations are devolving design responsibility to their suppliers in order to meet these challenges, yet may lack appropriate knowledge of “best practice” in managing supplier integration. For example, how to adjust their management practices to the timing of supplier integration and the degree of design responsibility award to suppliers. A survey of 134 global industrial organizations, and their efforts to integrate suppliers into their new product development processes, shows that early assessment of supplier capabilities and setting joint technology goals can improve the effectiveness of NPD project teams, and lead to improved product design and financial outcomes for the firm.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.