Introduction and challenges
The contribution of suppliers to value creation is becoming increasingly important for companies. It means identifying innovations which, combined with the product and service offer, will strengthen competitive advantage. It is also about leaning on reliable partners who actively contribute to the company’s progress.
Identifying the right supplier to become a leading partner is a challenge that needs careful consideration in the panel strategy. The attractiveness of the company becomes key to attract the best start-ups and to retain historical partners.
Integrating suppliers into the upstream phases of R&D and product development is crucial. Risk-taking must be assumed whilst investing enough resources. Collaboration is not limited to purely contractual aspects but also includes its governance and the management of teams.
Finally, it is also necessary to think from the very beginning of the partnership about sharing profits and investments, otherwise there is a risk of the partnership collapsing that would annihilate all the efforts made so far.
How we can help
- Identification of areas where external collaboration is critical
- Identification of panel suppliers through the evaluation of the balance of power exercised and the evaluation of procurement strategies on supplier panels
- Establishment of multidisciplinary client-supplier teams within projects with appropriate governance, and clear and shared roles and responsibilities
- On-boarding of suppliers in the upstream phases of R&D and product development within a secure contractual framework
- The implementation of best practices for monitoring and managing QCD performance and risks