Procurement and Supply Management organizations have traditionally been highly focused on costs savings and supply continuity. These goals are more important now than ever – and the context for pursing them more complex.
There is a strong tendency for individuals and organizations to hunker down and focus on self-preservation during times of crisis. Unfortunately, this often translates into zero-sum thinking, reduced collaboration, and a lack of creative joint problem-solving – limiting innovation, just when it is most needed.
At many procurement and supply organizations, “innovation” has been understood to be about supplier contribution to new technology or products to drive revenue growth. Often under-emphasized are innovation efforts with suppliers focused on ways to reduce costs, improve efficiencies, and jointly manage uncertainty and risk.
In this webinar, originally presented with ISM, we explore how companies can re-balance their strategic focus to put more emphasis on joint innovation with suppliers during times of turbulence. We share current (and ongoing) research on joint innovation with suppliers, and case studies – with an emphasis on insights and lessons relevant to current dislocation and challenges posed by COVID-19.
To view the recorded version of this webinar, click here.