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22 October 2013

New report encourages procurers to work with suppliers to drive innovation

A report released by Capgemini Consulting aims to increase the number of procurers driving suppliers to innovate. The document is based on the findings of a survey conducted by the consulting agency, which found that firms that include suppliers in the early stages of innovation projects substantially outperform peers that do not. Innovation is a major aspect of achieving sustainable growth within a business, but must be systematically encouraged, even if this means acquiring new organisational skills and processes.

Identifying new suppliers with which to collaborate is an important step in developing a more innovative supply chain. The creation of Innovation Driven Procurement (IDP) groups is recommended, tasked with delivering more innovations in less time, accelerating design and launch cycles, and improving the end customers’ satisfaction.

It is also necessary to move away from the relationship whereby suppliers persuade buyers to purchase their goods. Instead, purchasers must persuade innovative suppliers to provide goods and services. The report concludes that to be successful, IDP groups must be explicitly organised and focused, and that the procurement organisation must attract and retain the right talent among its staff.

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