Supplier Innovation Contribution
Category: Strategic
Measures the extent to which suppliers help drive innovation through new ideas, technologies, or process improvements that benefit the buying organization.
What it Measures ?
How much value suppliers add by bringing new ideas.
Relevant StakeHolders
Innovation Teams, R&D Procurement
Why it Matters ?
Encourages innovation through supplier collaboration.
In-depth Use Case / Real-world Example
In a manufacturing company that produces smart industrial equipment, suppliers not only provide materials but also contribute ideas for new technologies or improvements. For example, a supplier suggesting a more energy-efficient component that reduces operational costs or introducing a new material that improves product performance. Measuring this could include counting the number of new ideas or product improvements implemented through supplier collaboration.