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How Procurement can help to drive Supplier-led innovation

ivalua

This means companies are under more pressure than ever to innovate at pace. As a result, the role of the supplier has grown in importance – for example, much of the innovation in the aerospace market comes from suppliers rather than traditional aerospace firms. Cost-focused approaches block innovation.

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Sustainability in Procurement: Strategies and Challenges

ivalua

Originally published in the 2022 ProcureCon Report “Transforming Procurement: Embracing Digital Innovation and Driving Sustainability” Ethical business practices and sustainability initiatives are forcing organizations to not only stand up, but to also set themselves apart from the competition by implementing ESG and CSR commitments.

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What is Strategic Procurement, and How Can Cooperative Purchasing Help?

American City & Country

Your procurement strategy should outline short-term and long-term goals, identify potential risks, and focus on building strong supplier relationships. For instance, instead of conducting lengthy RFP processes, your team can access ready-made contracts with industry leading suppliers.

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A More Reliable Path to Net Zero: Ivalua’s Latest Innovation Helps Reduce the Environmental Impact of Supply Chains

ivalua

By integrating the EIC’s functionalities in their procurement practices, organizations can dramatically accelerate sustainability agendas with reliable emissions data for all the direct and indirect products and services they acquire, and establish transparent reporting standards.

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Three ways World Bank procurement can drive collaboration for the SDGs

Open Contracting Partnership

Traditional procurement approaches prioritised lowest price, which led to unintended consequences like accepting bids of lower quality, a lesser performance record or that did not adequately allow buyers to consider equity, sustainability or socio-economic objectives like creating local jobs.

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Three ways supplier collaboration creates real value for manufacturers

ivalua

The term “supplier collaboration” can mean many things to many people depending on your functional perspective. Innovating. If you work in product design or engineering, supplier collaboration is focused on integrating strategic suppliers into your product innovation efforts.

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The Suppliers Perspective

Oxford College of Procurement and Supply

As buyers we often expect a lot from our suppliers, but do we take the time to think about what they need from us in order to perform to the standard we often demand of them? It is important for us to remember the suppliers perspective and to effectively communicate with them, so we receive the end product that we want.