How Suppliers & Foundries Can Advance Technology Together
The Foundry Planet website noted that by opening their innovation processes to their customers and suppliers as well as to start-ups and research institutes, companies are able to gain faster access to user requirements, expert knowhow and new technologies. In 2016, the management consultancy Staufen conducted research into the importance of innovations for modern industrial companies. According to the Staufen study, this effect of openess has already been recognized by many industrial companies. A good two thirds of companies say that they work more closely with external partners to develop innovations than in the past. Another study quoted in the article noted that “It is a company’s network-building ability that will determine their economic success or failure in the future. The complexity of products and processes is increasing to such an extent that it can only be mastered through cooperative divisions of labor, i.e. collaboratively”.
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