How can procurement accelerate innovation? In today’s rapidly evolving world of product development, innovation cycles are shorter, global competition is fiercer, and supply chains are more complex than ever. To stay ahead, organizations increasingly rely on external suppliers for key parts of their product innovation. Yet in many companies, procurement is still involved too late in the development process, missing critical opportunities to reduce costs, manage risks, and drive innovation.
This whitepaper reveals how early involvement of procurement can significantly enhance the success of innovation projects. Based on research in collaboration with the University of Twente, the study outlines how procurement contributes not only through traditional tasks, but also as a strategic partner in supplier selection, market exploration, and innovation roadmap alignment.
You will gain insight into the changing role of procurement throughout the product development lifecycle. The whitepaper highlights best practices, including early supplier involvement, supplier relationship management, and integrating supplier knowledge into R&D processes. It also presents practical tools such as the OGSM method, the One-Page Category Plan, and innovation-focused contracting strategies.
Download the whitepaper below and discover how your procurement team can become a true driver of innovation.
