Technology-based forecasting approach for recognizing trade-off between time-to-market reduction and devising a scheduling process in open innovation management

Abstract

Due to rapid advances being made in computing technologies, open innovation methods are being used for better managerial forecasting and min-max efficient time for delivering final products to the marketplace. This requires that technology, time, human capital, efficient and sound production methods, and delivery are all high quality. This paper explores how ‘process development′ can connect all parties in managerial efficiency in time and cost to achieve targeted goals. Knowledge gaps concerning operations and technological forecasting of multiple development projects under open innovation infrastructure are filled in here. Overlapping consecutive tasks in the production process to reach the desired objective are described. The proposed model recognizes the trade-off between time-to-market reduction and devising a scheduling process that is minimized as much as possible, which demonstrates time to delivery effectiveness. The model serves to conduct an empirical study using Chinese data. We observe encouraging results in the modelling of operational excellence in technology development processes (lead time data) using Convex, Linear and Nonlinear models to achieve the goals. Overall, in open innovation, where collaboration spans boundaries and involves multiple stakeholders, effective overlapping scheduling isn't just about managing time; it's about orchestrating a harmonious collaboration that enables diverse groups to work cohesively towards a shared goal, and our paper contributes to providing a seminal toolkit and methodologies into it.