Sparking innovation with suppliers

WHITEPAPER by:
Giles Breault, Principal and co-founder of The Beyond Group.
Sammy Rashed, Principal and co-founder of The Beyond Group. 

For some time now we have been delving into the question of what procurement teams imagine themselves becoming. The question may seem sophomoric on the surface but there are plenty of indicators that the same old results will no longer earn you a seat at (or near) the table. In fact, if current trends continue, it’s likely that the heady days of purchasing’s ascendancy may well be over.

A recent instalment of A.T. Kearney’s Assessment of Excellence in Procurement, 2014 showed that most respondents had seen savings rates fall dramatically back to pre-financial crisis levels of 2008. With savings rates now hovering around 4%, the function needs to impact the business in more durable ways than simply being the producer of expected cost savings year in, year out.

The Beyond Group paired up with universities, research institutes and thought-leading publications, such as Procurement Leaders, to continue building insights into the changing world of procurement. The greatest findings came directly from industry itself, with sector-specific think tanks aimed directly at answering key questions about the state of our art.

Thus, we have recently completed the 2014 Productivity in Pharma series. Our topic was ‘How does purchasing strike the spark of innovation from suppliers and then nurture those innovations through to realisation?’ It brought together leaders from pharma companies throughout Europe, along with consultants, academics, innovation experts and industry thought leaders…

KEY TAKEAWAYS:

  • A model can be implemented to bring a more deliberate direction to the sourcing innovation process.
  • An ecosystem of processes must work together in order to form a high-functioning innovation sourcing process.
  • Understanding the function’s maturity allows teams to selfdiagnose strengths and weakness in respect to particular steps.

Please use the link below to access the full whitepaper.

Download Whitepaper

Giles Breault and Sammy Rashed are speaking at our upcoming Clinical Outsourcing Congress, co-located with Innovation in Clinical Trials, these events provide a platform for meeting your peers in one big interactive, multi-track clinical event. Gain insight from the pioneers who are at the forefront of clinical transformation and Innovation.

Leave a Reply

Your email address will not be published. Required fields are marked *