“ TECHNOLOGY IS A VEHICLE FOR INNOVATION TO DRIVE THE COMPANY AND SUPPLIER COLLABORATION MODEL ”
“ TECHNOLOGY IS A VEHICLE FOR INNOVATION TO DRIVE THE COMPANY AND SUPPLIER COLLABORATION MODEL ”
NICOLAS WALDEN SENIOR DIRECTOR , SENIOR DIRECTOR , PROCUREMENT EXECUTIVE ADVISORY MEMBERSHIP PROGRAMMES , THE HACKETT GROUP
Search : How can we find opportunities for innovation through scanning or scouting ? Select : What are we going to do and why ? This could include developing relationships to access the necessary complementary capabilities , prototypes , minimum viable product , and incubators . It could also involve developing an ecosystem to support innovation that extends beyond Tier 1 vendors , to Tier 2 / 3 and other startups and academic sources . Implement : How are we going to make it happen ? This means finding , selecting and helping transferring capabilities from external parties and managing external parties , as well as ensuring the right commercial structures are in place to motivate , reward and encourage innovation . Capture : How are we going to capture the benefits ?
How can firms use supplier innovation at the design stage ? BR : There are clear advantages for businesses to leverage supplier capabilities , particularly during the design and conceptual phase of the innovation cycle . Suppliers clearly understand their end customers and can provide innovative ideas about strategy , products , services , and business models .
NW : Some key examples include improving customer satisfaction or the user experience , improving goods or services available , and increasing the efficiency of product or service development .
Give an example of the power of supplier innovation ? BR : L ' Oréal has established a collaboration process with its suppliers .
50 September 2022