An interesting read from Denmark how to you can make innovation happen through strategic collaboration. The article analyzes how the Danish offshore wind energy sector could reduce cost through supply chain innovation.
The article describes in 6 easy steps how to create you own sourcing strategy.
The basic steps are:
- Enumerate the “things” you need to source (functions, services, resources, capabilities, etc.).
- Document your current sourcing model.
- Determine your desired sourcing model.
- Use the information gathered in steps 2 and 3 to visualize how well your current sourcing model matches your desired sourcing model.
- Determine what to do about the “deltas” that you discovered in step 4.
- Develop an execution plan for doing it.
Please click on the links for the full article.
Why use a formal strategic sourcing process?
The 7 steps to a strategic sourcing approach:
Vendor management is not a science, but a straightforward approach that could be applied by literally any company. Unfortunately, nowadays most companies are driven by a short-term, you may also call it short-sighted, mainly cost-driven approach. This works for non-strategic products and services, for which you easily could swap suppliers.
Any service, product or good that is strategic for your company requires a different approach how to deal with your suppliers. Have a look at those 8 tips for a successful vendor management.
This is worth watching: Guy Kawasaki speaking at TEDx Berkley in 2014 about the art of innovation in his very unique and humorous style. Highly entertaining, but still eye-opening. Guy provides great examples of innovative products and different companies. 21 minutes worth watching!