The concept taught through the
following slide in class, showing end customer as a part of supply chain
management, was very new.
But developing on this concept and
reading the Businessweek article on TATA Nano introduces its reader to one of the outcomes of
innovative processes – making customers a part of supply chain, like
co-creation. This concept is new but it is spreading fast with a very positive
feedback companies are getting as a result of consumers’ participation in
innovation and design of new products. It is engaging all stakeholders by
making them a part of product creation and product development.
All leading enterprises like
Apple, Coca-Cola, Microsoft and FedEx are using this strategy for business development
and have reported to be very successful. Infosys’s “Innovation Co-Creation” is
also a very successful example of use of this process to look for innovative
solutions to various corporate and organizational problems. Infosys has given
this process form of a lifecycle connecting various stakeholders to share ideas
and experiences to innovate using three steps – Inspire, Engage and Realize.
The concept of customer
interaction and co-creation is helping organizations becoming more efficient
and effective for all stakeholders. This process has been supported by
the modernization in the field of information technology as that has made this
interaction possible in the most cost-effective and less time consuming manner.
Information is no more controlled by the organizations only but consumers have
been very interactive with the help of easy access to internet and this fact
has made organizations very much responsive to the needs and requirements of
the consumers. Organizations like BMW are using this tool as a mode of design
innovation by providing customers with an option to test their ideas in virtual
labs. In this way companies are benefiting from the skills of creative
customers – proving for them a great resource for free. At the same time, this strategy is making the consumers more empowered and bringing them exactly what products they are looking for.
Ref.:
§ The Power of Co-Creation
by Venkat Ramaswamy
www.businessweek.com/stories/2008-02-27/learning-fromtatas-
nanobusinessweek-business-news-stock-market-and-financial-advice
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