TECHNOLOGY
40
In the face of increasing pressure to meet rising customer expectations , the need for organisations to innovate quickly has never been greater .
Customers are typically expecting you to deliver the “ next big thing ”, which is resulting in product lifecycles shrinking and technology continuing to advance rapidly . However , this demand for innovation is impacting the success of rolling out new products , with Gartner detailing that 40 % of product launches fail to achieve business goals .
In this highly-demanding landscape , organisations need to turn to their procurement teams to accelerate innovation and ensure new product launches are aligned with business priorities . But a traditional and rigid approach to procurement simply won ’ t work . Instead , organisations need a more agile approach which taps into a key source of innovation ; the organisation ’ s supply base .
However , this shift won ’ t happen overnight , and organisations must
OCTOBER 2018