1 Introduction
In the case of inventory planning, it becomes necessary to differentiate between procurement and production activities. In order to link innovation efforts with inventory issues, such efforts are first discussed. Also, the factors influencing innovation efforts are explained in sufficient detail. These include the type and size of an organization, nature and boundary of innovation, and area and scope of work. Additionally, related expenditure and time considerations are suitably incorporated. Strategic period is also introduced when an innovation and the related efforts are explicitly included in the analysis.
1.1 Innovation Efforts
An organization requires innovation efforts in terms of products and processes. This requirement ...
