The rapidly increasing pace of change and the proliferation of disruption, along with new technologies, are making evolved models of growth and innovation competitive necessities, not optional activities.
Innovation or irrelevance
External partnerships, SRM and a whole host of supplier initiates have come and gone over the years, failed to get traction and fell by the wayside. Why is this? For the most part it is because past efforts lacked a strong link to the company’s strategy and wasn’t tied to business value outcomes.
Connecting the dots between strategic business needs around innovation and harnessing your supplier ecosystems to deliver against these objectives is where SC&I comes in.
Supplier Collaboration and Innovation (SC&I) not only gives you the blueprint on how to collaborate with your suppliers more effectively, it also gives you the tangible outline on how get a program started and scaled.
No time for complacency
As the life expectancies of companies continue to shrink, organisations must be more focused than ever on being innovative and future-proofing their businesses. A whole host of companies that were once household names have lost market dominance or disappeared altogether as a result of complacency. Polaroid, Compaq, General Motors, BlackBerry, Kodak, Yahoo, Xerox, MySpace, Blockbuster and more all failed to change, or didn’t change quickly enough and lost out to competitors.
To be successful, every business must embrace the concept of innovation. Without fresh thinking a company will fall behind, wither and potentially die. Whether your business is focused on achieving growth, boosting productivity or increasing sustainability, you must invest time and money into doing things differently.
“A disruptor may have not hit your industry yet, but it’s coming soon. The ability to align your strategy with your suppliers to drive your competitive advantage and to execute on speed and growth is essential. It’s not just for procurement or research and development, it’s about optimising your value chain across the whole business. It’s a hard time for a CPO, but it’s an exciting time too as they shift from the productivity and savings goals to really getting around to the growth and sustainability agendas of their organisations.”Mark Perera