Professor Robert Handfield Discusses the Role of Supply Chain Management in New Product Innovation

A 2015 survey on new product innovation conducted by Nielsen Global found that 63 percent of consumers like when manufacturers are the ones introducing new products. However, it is challenging for supply managers to bring in early cost data to develop products in a timely manner and for lower costs. Robert Handfield, a professor of supply chain management within NC State’s Poole College of Management, contributed to the nine techniques supply managers could apply to develop products more efficiently. “Supplier involvement in new product development can yield such benefits as reduced cost, improved quality, reduced product development time, and improved access to technology,” said Handfield when discussing the benefits of involving suppliers early in the product development process. Read more at Inside Supply Management Weekly.