Playing the long game
45 promoting innovation and incentivising suppliers to share their latest breakthrough technologies .
Playing the long game
The fact is , while cost cutting is important , organisations must ensure they can do it in a sustainable manner that doesn ’ t threaten innovation or a supplier ’ s financial wellbeing . The adoption of smart procurement technology provides access to supplier insights , advice and technology , giving organisations a way to work more collaboratively with their supply base .
This smarter approach puts procurement leaders in prime position to steer the course of an organisation ’ s innovation . This results in faster development of new products which wouldn ’ t otherwise be possible , resulting in a shorter time-to-market . Procurement can do more than just cut costs - it has become a major driving force behind innovation , capable of delivering NPI in a sustainable manner and enabling greater collaboration with suppliers that will lead to greater profitability and better future relationships .
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