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The Economist Guide To Supply Chain Management by Jacoby, David

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9 Innovation: competing on revitalisation

Innovation is a necessary response to globalisation and competitive pressure. Product life-cycles are shortening for everything from toys to mobile phones. Information technology has had a big influence on the trend, but has not been the only driver. Technology and globalisation in general have been driving faster new product introduction.

The nature of innovation is changing rapidly and reshaping industries. Product life-cycles are getting shorter, increasing the need for quick and reliable new product introduction as well as smart tools for knowing when and how to best retire products that have matured and are at the end of their life-cycles. Also, new technologies can change industry structures. The ...

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