Accelerating Supplier Enabled Innovation – Harnessing the True Power of Supplier Relationship Management(SRM)

Innovation goes beyond the boundaries of the organization, and the notion of working in an integrated way to capture the best ideas from the supply chain or ecosystem has become firmly established as the key to future competitive advantage.

Improving functionality, utility, and value of products and services to customers has become a key responsibility of those charged with managing that supply chain, the Chief Procurement Officer (CPO) and the professionals in their team.

Nowadays embedded in mature supplier relationship management (SRM) practices, successful innovation capture from suppliers is nevertheless patchy. Innovative ideas being in short supply is one thing, but what does an organization do when it is inundated with value improvements from suppliers and is unable to implement them? Few other burning questions that arise are:

• How supplier enabled innovation fits within the practice of SRM?
• Which supplier management practices encourage supplier innovation?

In this webinar, David Atkinson, MD of Procurement Training and Advisory at Four Pillars and Former Procurement Director at Rolls-Royce, answered questions submitted by the procurement leaders looking to encourage supplier innovation and will provide a guide for taking supplier innovation from the theoretical to the practical.