Some Government Agencies recognised an opportunity to harness market and industry expertise through an Innovative Supplier Engagement (ISE) framework. In the past, no avenue existed to respond and cater for the consistent submission and evaluation of vendor initiated proposals; as a result much of that knowledge remained untapped and/or partly addressed through traditional and prescriptive Request for Tender (RFT) market engagement.
BvW Global developed Four Frameworks to allow the submission of innovative and non-prescribed proposals by suppliers and by the same token, take advantage of supplier led innovation for the benefit of value-based outcomes and tax payers.
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 leading companies. Important innovations are developed internally, externally, or in collaboration with suppliers and customers.
However, most Governmental Agencies have not yet fully embraced how they will most effectively leverage external supplier capabilities to Accelerate Innovation to the benefits of Tax Payers and access another layer of dollar savings via Innovation Sourcing.
The methodology developed by BvW Global seeks to further develop insights about accelerating and obtaining supplier innovations in a standard set of defined frameworks.
Having the ability to consistently assess innovative proposals within a Government environment allow Agencies 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 systems to achieve very different outcomes.
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 a Government Agency-wide (or Governmental) innovation strategy and metrics that accurately measure the success of the innovation effort.
WANT TO KNOW MORE?
Contact us for more information on how implementing an Innovative Supplier Engagement can create savings and additional benefits for Government Agencies, Suppliers, and deliver additional value to Tax Payers.
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