What is Supply-Pushed Innovation?
Supply-pushed innovation is a process of creating products or services that are driven by the availability of resources. It is a type of innovation that focuses on the resources that are available to a company, such as technology, materials, and labor. The goal of this type of innovation is to develop products and services that can be made with the resources that are already available to the company.
Benefits of Supply-Pushed Innovation
There are several benefits to supply-pushed innovation. Here are some of the most common:
- It is cost-effective, since it requires the use of existing resources and does not require significant investment into research and development.
- It can help to create products and services that are more sustainable, as they are often more efficient and use fewer resources.
- It can enable companies to respond quickly to changing market conditions, as they can quickly adapt their existing resources and create new products or services.
- It can help companies to remain competitive in the market, as they are able to create new products or services that are not available from competitors.
Examples of Supply-Pushed Innovation
There are many examples of supply-pushed innovation in the world today. Here are some of the most notable:
- Tesla: Tesla is a company that focuses on using existing resources to create new products and services. They are able to do this by utilizing their existing technology, materials, and labor to develop new products and services. This has allowed them to become one of the most successful companies in the automotive industry.
- Apple: Apple is another company that has successfully utilized supply-pushed innovation. They are able to use their existing technology, materials, and labor to create products that are not available from competitors. This has enabled them to remain competitive in the market and continue to create new products.
- Amazon: Amazon is another company that has utilized supply-pushed innovation to create new products and services. They have leveraged their existing resources to create products that are not available from competitors. This has enabled them to remain competitive in the market and continue to create new products.
Conclusion
Supply-pushed innovation is a process of creating products or services that are driven by the availability of resources. It is a type of innovation that focuses on the resources that are available to a company, such as technology, materials, and labor. There are many benefits to supply-pushed innovation, such as cost-effectiveness, sustainability, and the ability to respond quickly to changing market conditions. There are also many examples of successful companies that have utilized supply-pushed innovation, such as Tesla, Apple, and Amazon.
References
- https://www.globalspec.com/learnmore/business_management/supply_chain_management/supply_chain_innovation
- https://www.forbes.com/sites/bernardmarr/2018/07/17/how-tesla-is-using-innovation-to-disrupt-the-automotive-industry/#11d17f8a7a99
- https://www.inc.com/encyclopedia/supply-chain-innovation.html