Supplier Collaboration & Innovation for Growth
Against the background of unprecedented turbulence in the business landscape, it comes as little surprise that corporate longevity is dwindling fast; around half of all S&P 500 companies are predicted to be replaced in the next ten years, with 1964’s average 33 year lifetime of a business projected to shrink to just 12 years by 2027.
In this environment, enterprise organisations must work harder than ever to safeguard their competitive advantage.
To do so, smart enterprises are leveraging Supplier Collaboration and Innovation principles to drive business growth. By building deep, mutually-beneficial relationships with key suppliers, leveraging collaborative project work to meet emerging challenges, and leveraging supplier innovation to uncover new revenue streams, mature procurement organisations can use the organisation’s supplier relationships to deliver on strategic growth goals. And with the centralisation, visibility, and robust governance provided by the Vizibl platform, they can do so systematically and at scale.
