What can be a benefit of involving suppliers in product development?

Involving suppliers in product development can significantly enhance innovation and responsiveness. Suppliers often possess specialized knowledge, advanced technologies, and insights into market trends that can contribute to the development of more effective and innovative products. Their involvement can lead to creative solutions and improvements that may not have been considered otherwise.

Additionally, by working closely with suppliers, organizations can become more responsive to changes in customer demands or market conditions. This collaboration allows for quicker iterations and adjustments during the development process, leading to a more agile and efficient approach. Overall, engaging suppliers can create a synergistic relationship that benefits product quality and market competitiveness.