how does outsourcing innovation differ from traditional product production outsourcing?( g m suppliers selection for innovation)
how does outsourcing innovation differ from traditional product production outsourcing?( g m suppliers selection for innovation)
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In product production outsourcing, the production is outsourced to a third party. Generally, production is outsourced to achieve cost-benefit or avoid capacity addition
Innovation outsourcing, on the other hand, aims at gaining a strategic advantage by achieving innovation and value. In innovation outsourcing, an external party is engaged in idea generation for new product development as well as strategy development for bringing the idea to the market. The focus of innovation outsourcing is never on cost.
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