Supplier collaboration is key to coming out of disruption on top

If 2020 has taught procurement professionals anything, it’s that disruption is an inevitable part of business and can hit at any time, in any industry. Procurement leaders have shaken their heads and looked to their suppliers to help fix issues caused by different disruptions over the past year.

For years, external partnerships, SRM and other supplier initiative programs have tried to harness all the great ideas in their supplier ecosystem, but ultimately failed. Some supplier management solution providers, like Vizibl, outline that that is due to these programs never having any value attached to them as they weren’t aligned with business and company strategy, transparency was hard to achieve and they were cumbersome with manual ways of working. In short, they failed to answer the "so what?" question. But that has evolved significantly in the last few years.

It’s not enough to simply manage supplier relationships anymore.

True winners are the companies that have looked to the importance of supplier innovation and collaboration to solve problems. The link between innovation and business objectives is the sweet sauce for procurement professionals to finding success and staying afloat in times of disruption.

Vizibl proposes Supplier Collaboration and Innovation (SC&I) as the solution to many supplier woes. The collaboration component to SRM provides a blueprint for how to work with suppliers more effectively while giving tangible outlines for how to get a program started and scaled.

“A disruptor may have not hit your industry yet, but it’s coming soon,” Mark Perera, CEO of Vizibl, said in a recent blog post. “The ability to align your strategy with your suppliers to drive your competitive advantage and to execute on speed and growth is essential. It’s not just for procurement or research and development, it’s about optimizing your value chain across the whole business. It’s a hard time for a CPO, but it’s an exciting time too as they shift from the productivity and savings goals to really getting around to the growth and sustainability agendas of their organizations.”

In an effort to showcase the importance of supplier collaboration in SRM, Vizibl is hosting a webinar titled “The Future of Procurement: How Sanofi Are Reinventing Their Approach To Supplier Relationships.” Sanofi is a Vizibl customer that has real-world knowledge of how supplier collaboration works. The company’s CPO will provide first-hand experience of the Supplier Collaboration and Innovation solution.

How supplier collaboration can drive value to organizations

Vizibl CEO Mark Perera will be joined with Stephen Cobham, Sanofi’s CPO, and Jenny Draper, general manager of Spend Matters Europe, to discuss the future of supplier relationships.

The panel discussion will feature new ideas on supplier collaboration — specifically, how and why Sanofi used supplier collaboration to drive the next wave of savings while generating value beyond savings. Cobham will get into the details of how Sanofi is measuring its successes in having more collaborative supplier relationships and the technologies used.

All three panelists bring unique perspectives to the area of supplier management and collaboration.

Stephen Cobham is Chief Procurement Officer at Sanofi, the world's fifth-largest pharmaceutical company by prescription sales. Stephen joined Sanofi in 2009 and has worked in executive roles in Latin America, Turkey and the Middle East. Prior to Sanofi, Stephen worked at Bristol-Myers Squibb and GlaxoSmithKline.

Mark Perera brings 20+ years experience building start-ups, scale-ups and working with global corporations. Most recently, as founder and CEO of Vizibl, he is helping companies build and scale their innovation and supplier ecosystems. Previously, Mark founded Procurement Leaders, the world’s largest procurement network. He is extremely passionate about the ability of procurement organizations to drive positive change in the world.

The webinar will take place on Wednesday, November 25, over Zoom, at 3 p.m. (GMT), 10 a.m. (EST). Among the panel discussion, there will be ample time for attendees to gain other insights in a Q&A portion. To learn more and register, visit Vizibl’s registration page.

In a time when many companies are looking to innovate, this webinar will provide expert insight and knowledge into supplier collaboration — the new frontier for SRM innovation.

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