Process Innovation type of innovation focuses on the supply side, looking for opportunities to remove non-value-adding steps from the workflow.
What is an example of process innovation?
- A process innovation is the introduction of a new or significantly improved method of production or delivery. Significant changes in techniques, equipment, and/or software are included.
- A company, for example, can modify the software used in its supply chain and delivery system. You can use PI to create new products or improve existing ones. Processes in areas such as information systems, manufacturing, and customer service can all be innovated by organizations.
- Process innovations can be designed to reduce unit costs of production or delivery, improve quality, or create or deliver new or significantly improved products. Process innovations include new or significantly improved methods for service creation and delivery.
- Product innovation refers to the development and release of a new product or service to the market, as well as an improved version of an existing product. Process innovation, on the other hand, is the implementation of a new or improved production or delivery method.
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