Our clients have recognised an opportunity to harness market and industry expertise through BvW Global’s Innovative Supplier Engagement (ISE) methods.
Currently no avenue exists to respond and cater to unsolicited vendor initiated proposals or to look holistically at a collaborative partnership with major suppliers; as a result, much of
that knowledge and benefits that a greater level of strategic engagement that suppliers can provide remains untapped and/or partly addressed through traditional fragmented and prescriptive RFT market engagements.
BvW Global has developed “Four Frameworks” to allow for the submission of consistent, transparent, and measurable evaluations of innovative and non-prescribed proposals by suppliers. And by the same token, take advantage of supplier led innovation for the benefit of end customers or consumers.
ISE does not seek to replace traditional procurement methods, but rather tap into a much more advanced engagement process of key trading partners that are rigorously assessed for risks, financial soundness and business integration capabilities.
Innovative Supplier Engagement
Product, service and process innovation is a critical strategy at many Government Agencies and Corporations. Important innovations must be developed internally, externally, or in collaboration with suppliers and customers.
Innovative: Advanced, forward looking, modern, groundbreaking.
Supplier: To furnish or provide, to make up or satisfy a deficiency, need.
Engagement: A promise, obligation.There are no secrets to success. It is the result of preparation, hard work, and learning from failure.”
However, most Governmental Agencies and Corporations have not yet fully embraced how they will most effectively leverage external supplier capabilities to Accelerate Innovation for the benefit of improved service delivery and to access another layer of dollar savings via Innovation Sourcing.
The methodology by BvW Global seeks to further develop insights about accelerating and obtaining supplier innovations in a standard set of defined frameworks. Those frameworks are:
- Framework I – Vendor Accreditation Scheme
- Framework II – Preparation and Submission
- Framework III – Evaluation and Recommendation
- Framework IV – Enactment and Engagement
Having the ability to consistently assess innovative proposals within a Government or Corporate environment allows our clients to adopt new ways of working with the capabilities of accredited suppliers.
Types of Innovations
There many types of innovation concepts that can be advanced by the supplier community. Some innovations are often and naturally linked to a new product becoming available onto the marketplace, but other types of innovation (e.g. not thought before) are also based on how to optimise “system xyz” to achieve very different outcomes.
We anticipate the following sample of innovation concepts to be brought forward by the suppliers community which must follow a thorough evaluation to confirm a baseline to
improve from — whilst at the same time — demonstrate the ability to achieve the intended outcomes through a staged implementation approach.
However, to drive innovation, a clearly defined and articulated innovation strategy must be established. The strategy requires a holistic approach with a number of elements that include Corporate (or Governmental) innovation strategy metrics that accurately measure the success of the innovation effort.
We have identified 12 Main Innovation Types that companies and agencies may explore and implement.
Note: Obvious limitations to innovation are (a) risk adverse management, (b) complex undertakings, and (c) inadequate measurement practices.
Please contact us for further information.
