{"id":16240,"date":"2023-02-14T15:39:07","date_gmt":"2023-02-14T12:39:07","guid":{"rendered":"https:\/\/k-house.in.ua\/?p=16240"},"modified":"2023-02-14T16:19:20","modified_gmt":"2023-02-14T13:19:20","slug":"how-to-create-a-supplier-collaboration-strategy-the-complete-guide","status":"publish","type":"post","link":"https:\/\/k-house.in.ua\/en\/how-to-create-a-supplier-collaboration-strategy-the-complete-guide\/","title":{"rendered":"How to create a supplier collaboration strategy"},"content":{"rendered":"

With sustainability efforts now seen as a priority for stakeholders, it is imperative that all large businesses successfully deliver on sustainability targets. The good news is that procurement teams can take a leading role in ensuring this happens by establishing effective collaboration with suppliers.<\/strong><\/span><\/h3>\n<\/div><\/div>

Sarah Clarke from Vizibl, Supplier Collaboration & Innovation Platform, shared her vision how to drive sustainable business growth via supplier collaboration strategy.<\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section>

Procurement has historically been viewed as a back-office function, tasked with quality, cost reduction, and receiving all goods and services on time, but it\u2019s moving into an expanded role \u2013 and as a result of new challenges, supplier sustainability through collaboration and innovation is emerging as a priority.<\/p>\n<\/div><\/div>

Yet, most enterprise organisations don\u2019t know where or how to begin, with many businesses struggling to achieve collaboration systematically and at scale. However, establishing short, medium, and long-term goals can help improve your supplier relations:<\/strong><\/p>\n<\/div><\/div>

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Short term:<\/strong><\/h4>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section>

1. Set an objective based on your strategic needs and align it with value trackers<\/strong><\/span><\/h3>\n<\/div><\/div>

Initially, it is vital that you define what you want to achieve by collaborating with suppliers and setting a strategic goal before you begin. This means you have a benchmark of achievement as you begin your collaboration.<\/p>\n<\/div><\/div>

Once launched, it\u2019s important to align your collaboration project with value trackers. Procurement is typically measured on cost and time savings, finding it notoriously difficult to measure things other than transactional metrics on the value it brings back to the business. As procurement gains importance and new responsibilities, the value it adds to the business must be tracked in correspondingly new ways.<\/p>\n<\/div><\/div>

Having set a general objective for your collaborative projects and supplier collaboration programme, it is vital that you narrow down and focus on your strategic needs. Once defined, align the KPIs you set against the performance of your strategic suppliers so that you can have a metric for success as you progress through your supplier collaboration programme.<\/p>\n<\/div><\/div>

Don’t forget also about Supplier Diversity Program.<\/a><\/p>\n<\/div><\/div>

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2. Identify innovation opportunities<\/strong><\/span><\/h3>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section>

Innovation is key to unlocking value and change at scale within any organisation and there are few better places to source innovation than the supply base. Through supplier innovation, your collaboration can lead to growth, new value streams, emissions reductions, and a faster track to customer of choice status.<\/p>\n<\/div><\/div>

Suppliers come armed with their own talent pool, a wealth and breadth of knowledge across competitor organisations, insights from other verticals, and an intimate understanding of local markets in an increasingly global landscape.<\/p>\n<\/div><\/div>

It is important to ensure that your business keeps an open mind to new ideas, new approaches, and new strategies for your procurement process, alongside communicating the value that supplier innovation can bring to your organisation.<\/p>\n<\/div><\/div>

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