Why collaboration can give you a lead over your competition

Innovation and collaboration can mean a whole range of different things to many different businesses. However, many businesses owners are in agreement that innovation and collaboration needs to be inbuilt as part of evolving innovating approach to delivering your goods and services. Buyers are forever looking to add value to contracts, so you should how you might be able to do this.

Innovation can materialise in many different ways, but one thing that joins innovation together in all businesses is moving forward and doing things differently, often providing opportunities to get ahead of the competition.

Businesses are increasingly looking to their suppliers to provide goods and support services that help to make innovations a reality. It is procurement that is typically responsible for bringing innovations to the forefront integrating them into services.

Research made available from Procurement Leaders, suggests that on average, two-thirds of a company’s revenue is spent on suppliers. With significant proportions of your business being invested into suppliers, it makes sense to make the most of the investment. This can be done by forming stronger, collaborative, working relationships with them.  The desired outcome is achieving innovation across every area of your business. Collective  collaborative effort between businesses and suppliers can help to drive drive greater efficiency.

As well as collaboration with suppliers, collaborative working with sub-contractors can also lead to new ideas, new thinking and innovation.

To achieve better collaboration, businesses must start by making simple changes. Examples are as follows:

  • Staff and senior management acknowledging the importance of collaboration
  • Conducting reviews of a team’s skill-sets
  • Creating a culture of empowerment and shared responsibility.

As with any organisational change, this should always start with support from the top. investment is the keyword and driver here.

If the business is being asked to develop closer partnerships with suppliers for the long term, this will rely heavily on being able to form strong working relationships. Better relationship management will ultimately help businesses demonstrate a commitment to the supplier and encourage them to work towards the long-term goals. We have seen many examples where strong relationships win new business because of, and not in spite of, the strong relationship.

The responsibility for innovation can’t fall on the shoulders of one person or one department. Instead, improving results in both the short and long term will require a cross-business collaborative approach that encourages all employees to work together towards a shared goal.

In short, look at your innovations. How many innovations have you had in the last year? Review current and future business relationships, look to build networks of trusted suppliers and sub-contractors, see how you can innovate and bring change to your business and to offer new exciting ways to add value for buyers.

© The BIZphit Tendering Team

Categories: Collaboration


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