Making Innovation a Supply Chain Measurement Priority
To ensure precision and efficiency, supply chain organizations look for the right measures to track their performance. These efforts focus on identifying key performance indicators for standard supply chain functions such as planning, procurement, manufacturing, and logistics.
Yet many organizations do not factor in the measurement of innovation in the supply chain. Before incorporating more innovation into their supply chains, organizations need to determine which types of innovation to focus on and how to measure the success of their innovation efforts. APQC places innovation into four categories:
- Product/service innovation
- Operational/process innovation
- Business model innovation
- Innovation enablers
This article provides insights into the top innovation focus areas, actionable strategies, categories of innovation measures, several approaches to measure selection, and criteria for selecting measures.
To view the related infographic, click here.