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Article: Innovation for hire: contract manufacturers meet the challenge of providing constant innovation and shorter product lifecycles by innovating processes, using new raw materials and servicing new markets like Russia and China.(CONTRACT MANUFACTURING)
- Article from:
- Global Cosmetic Industry
- Article date:
- June 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 Allured Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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EXECUTIVE SUMMARY
* PRODUCT LIFECYCLES
Shorter product lifecycles are prevalent among large contract manufacturers.
* THINKING LIKE CUSTOMERS
Analyzing client product ranges, promotional cycles and marketing plans.
* THE INNOVATION PROCESS
Contract manufacturers invest heavily in R&D to generate new ideas.