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Market scan cross industry innovation
Market scan cross industry innovation
Market scan cross industry innovation
Market scan cross industry innovation
Market scan cross industry innovation
Market scan cross industry innovation
Market scan cross industry innovation
Market scan cross industry innovation
Market scan cross industry innovation
Market scan cross industry innovation
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Market scan cross industry innovation

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Know why cross-industry innovation is important in building supply chains

Know why cross-industry innovation is important in building supply chains

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  • 1. Market Scan: Why Cross-Industry Innovation is Important in Building Supply Chains1 © 2012 WIPRO LTD | WWW.WIPRO.COM
  • 2. Some of the best sources of incremental and disruptive innovation can come from outside a companys sphere of contacts and even outside its industry. For example, Toyota studied American supermarkets and successfully adopted just-in-time production techniques. The hub-and-spoke model for logistics efficiency that FedEx applied to overnight package delivery was based on methods developed at Delta Airlines.2 © 2012 WIPRO LTD | WWW.WIPRO.COM
  • 3. Supply Chain Innovation • Supply chain performance is judged by various attributes - agility, asset management, cost, reliability, and responsiveness • The trade-offs between these attributes tend to be between cost efficiency and responsiveness • The objective is to achieve a supply chain with higher performance, via a "market scan” Market ScanA market scan is an assessment process with distinct phases in which each successive phase results in greater quantity and quality of innovation. The output of the marketscan is then screened and evaluated to produce consensus on which innovative ideas should be tested and deployed3 © 2012 WIPRO LTD | WWW.WIPRO.COM
  • 4. Innovation Funnel4 © 2012 WIPRO LTD | WWW.WIPRO.COM
  • 5. Steps for a cross-industry market scan What are the Analysis List of possible objectives and scope actions and of the project? technology enablers • Based on this, • Supply Chain • This lists potential formulate a master Diagnosis supply chain list of potential • Comparative improvements and companies to scan assessment with also address for solutions outside companies potential pitfalls and shortlist addressed in the companies to hypotheses analyze • Hypotheses development based on the adoption of identified practices5 © 2012 WIPRO LTD | WWW.WIPRO.COM
  • 6. Market scan as a competitive edge Scouting around for new ideas in completely different industries is as much an art as a science - one that needs a special kind of understanding and imagination to see a successful technology or process and be able to imagine its potential to work in your own company Some may have to undertake staff training to overcome resistance to adopting and adapting innovation from the outside Organizations that lack the capacity to conduct a comprehensive cross-industry assessment on their own should consider a partner to manage both the outside-in analysis and the development of external sources and ideas6 © 2012 WIPRO LTD | WWW.WIPRO.COM
  • 7. Conclusion • Today and in the future, competition often comes down to who has the most effective and efficient supply chain • A market scan that includes the cross-industry innovation component is both a process and a mindset • Its a way of systematically expanding your pool of ideas to access the best supply chain practices across industries and organizations7 © 2012 WIPRO LTD | WWW.WIPRO.COM
  • 8. For more details please visit the link below : http://www.wipro.com/Documents/Nolf-Cross-IndustryInnovation- Final.pdf8 © 2012 WIPRO LTD | WWW.WIPRO.COM
  • 9. About Wipro Consulting Services Wipro Consulting Services helps companies solve todays business issues while thinking ahead to future challenges and opportunities. As a business unit of Wipro Technologies, one of the worlds leading providers of integrated consulting, technology and outsourcing solutions, we bring value to our clients through end- to-end business transformation – think, build and operate. Our model for the includes implementing lean process transformation, exploiting new technology, optimizing human capital and physical assets and structuring next generation partnering agreements that create value and win/win business outcomes for our clients. For more information, visit www.wipro.com/consulting or contact us by email at wcs.info@wipro.com9 © 2012 WIPRO LTD | WWW.WIPRO.COM
  • 10. Thank You ©Wipro Limited, 2012. All rights reserved. For more information visit http://www.wipro.com/consulting No part of this document may be reproduced in whole or in part without the written permission of the authors. Wipro is not liable for any business outcome based on the views presented in this document. For specific implementation, clients should take advice from their client engagement manager.10 © 2012 WIPRO LTD | WWW.WIPRO.COM

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