Accessing innovation in supply chains

Richard R. Young

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

Firms obviously intentionally purchase innovation when they source equipment, raw materials, and components for assembly. There are also myriad instances where innovation is acquired serendipitously but is nonetheless an important part of the value proposition. The supply chain is, hence, a key conduit for the flow of innovation between firms. Indeed, innovation can be considered a highly specialized form of information that may have long- or short-term implications and may be shared using formal or informal means; however, it is often ad hoc, meaning that while the knowledge flows and sharing are real, many firms do not account for such when engaging customers and suppliers. Firms need to embrace the concept of open innovation flow into their supplier selection criteria and in their relationships with their customers.

Original languageEnglish (US)
Title of host publicationOpen Innovation Through Strategic Alliances
Subtitle of host publicationApproaches for Product, Technology, and Business Model Creation
PublisherPalgrave Macmillan
Pages107-120
Number of pages14
ISBN (Electronic)9781137394507
ISBN (Print)9781137398550
DOIs
StatePublished - Jan 1 2014

All Science Journal Classification (ASJC) codes

  • Economics, Econometrics and Finance(all)
  • Business, Management and Accounting(all)

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