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When it comes to the nature of buyer-supplier relationships, we’re entering a brave, new world. Organizations are increasingly dependent on suppliers to successfully bring innovative goods and services to market on time, improve ESG performance, and meet other objectives. Gain control of your supplier data.
Or the automotive firms, who watched Tesla with the condescending view that electric cars would just be a fad, until they also realised the true potential. For the vast majority of organisations, suppliers must play their part when it comes to agile business and speed to market.
With businesses’ focus shifting from damage control to restoring growth, innovative CPOs are encouraging their procurement teams to prioritise supplier innovation and revenue growth opportunities. . Unlocking supplier-led innovation. Supplier-led innovation is hardly a new concept.
For example, consider the challenges in the automotive industry that stem from the supply chain issue in chip manufacturing. Achieving these goals requires maintaining complete visibility across your suppliers (into tier 2 and 3), and setting up processes for effective and efficient collaboration and transparency across the supply chain.
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