Question

How can early supply management involvement assist in low-cost and timely new product development?

Answer 1

Now a day’s failure or success of new product development depends on the innovation made by the companies in their products. When supplier are already involve in the product development starting from R and D (Research and development) it helps producer to make new product development. Since supplier has extended support to producer and he can invest his resource for the product development. One of the key aspects of earlier supply chain management involves better communication with supplier. Effective communication is the one of the key aspect of business for success. early involvement reduces low cost and timely new product development with high efficiency output, and quality product.