TECHNOLOGY
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For example , flexible workflows and digitisation of the process will keep everyone on the same page in near-real time , allowing for faster decision making as organisations work with their suppliers to highlight areas for improvement , or how to meet upcoming local regulations .
This relationship can regularly produce differentiated product offerings and give procurement teams an opportunity to help drive continued product support and profitability . One example of this is extending “ innovation initiatives ” to suppliers , encouraging them to make recommendations on how to reduce the weight of a component or suggesting how a supplier ’ s intellectual property ( IP ) can be included in a new product to enhance its value proposition . General Motors frequently calls out suppliers who have excelled or collaborated with GM to produce innovative technologies through its supplier programme ,
“ General Motors frequently calls out suppliers who have excelled or collaborated with GM to produce innovative technologies ”
— ALEX SARIC , Chief Marketing Officer , Ivalua
OCTOBER 2018