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innovation in management services in supply chains(SCM) - Essay Example

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Innovation in management services in Supply Chains (SCM) NAME: AFFILIATION: UNIVERSITY: Literature Review of Innovation in Management Services in Supply Chains Introduction of innovation in Supply Chain As the competition in the market is intensifying, it has become mandatory for both product and service-oriented companies to exploit their current capabilities and identify unexploited opportunities (Boon-itt & Rompho, 2012; Veronneau & Roy, 2008)…

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innovation in management services in supply chains(SCM)

Importance of innovation Innovation is best described as the development and creation of unique possibilities for making value added contributions in a particular industry. The entire process of innovation goes beyond the traditional method of implementing new manufacturing processes or developing innovative products because it comprises of much broader aspects such as innovation in the market, organization and input resources (Kim, Kumar, & Kumar, 2012; Ozturen & Sevil, 2009). Innovation in tourism and hospitality industry In the last few years, the researchers such as Boon-itt and Pongpanarat (2011), Martinez-Ros and Orfila-Sintes (2009) and Spekman, Spear and Kamauff (2002) have done extensive studies on the role of innovation in service sector especially tourism and hospitality industry. Tourism and hospitality industry consists of many areas and dimensions and the study is catered across different elements. As the world has become global, travelling to different destinations worldwide is now the favorite leisure activity of majority of the consumers of any society. ...
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