SUPPLY CHAIN
“ Through adopting Vizibl ’ s collaborative platform and approach to supplier relationships , a large Telco customer achieved a faster and more effective proof of concept process that not only increased ideas capture , but also increased the conversion of PoCs into fully realised innovation projects , delivering supplier-led innovation back to the business in a much shorter time frame ,” Perera says . “ They can now track and forecast value generation from supplier-sourced innovation through realtime reporting dashboards in Vizibl , enabling the procurement team to refine and grow its supplier-led innovation strategy .”
“ The power of technology to expand your efforts is also a vital consideration ; it powers supplier collaboration at scale , and fosters innovation and success at speed ,” Perera adds . But technology alone is not enough . Procurement leader are rapidly transforming their organisations towards new , more strategic processes such as outcome-based buying , which involves “ carefully detailing the problem you ’ re looking to solve , rather than the solution you think you need to buy ”. This mindset moves the dynamic beyond transactional product purchase , Perera says , and towards the types of collaboration that strikes at the heart of the issue at hand .
Not all supplier innovation is linked to solving problems , however . Organisations already adept at working collaboratively with suppliers are focusing on the long-term goals : better customer experience , greater representation for minority-owned business , and new avenues for revenue beyond their core capabilities . All organisations around the world have been forced to restructure around the impact of COVID-19 , but it will be the organisations that fully embrace the innovation of their suppliers that thrive in the unsteady years to come .
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