Procurement's Best-Priced Deal May Stifle Innovation

Harvard Business Review

Every single innovation conversation I've had recently with business unit leaders, product managers and/or marketing executives invariably focuses on the importance of partnership and collaboration with their best suppliers and vendors. If this means that procurement has to be a better real-time partner to, say, manufacturing or marketing to make sure the money's there to pilot a reprogrammed machine tool or a Cloud-enabled social media promotion, then good. It's leadership.