Innovation Sourcing

Leading the Field in Innovation Sourcing

Our innovation sourcing program is focused on designing your procurement department to add-value and accelerate the product & process innovation cycle within your supply chain. We know that innovative products are not created in a vacuum, therefore we recognize procurement as a key contributor to innovation sourcing through the vast tier-1 & tier-2 supplier network. Procurement is the liaison and promotor in your organization for external ideas. The products & processes resulting from the innovation sourcing program have the growth potential to become a significant contributor to your revenue stream, while simultaneously reducing supply chain and manufacturing waste. We align your procurement strategy and embed strategic innovation sourcing objectives. Moreover to expand the innovation sourcing network of your company, we organize successful supplier innovation and top supplier conventions, gathering all key stakeholders to collaborate on and fast-track innovative ideas.

Our consulting experts have deep experience in changing business environments and procurement transformations, to help pave the way to breakthrough innovations. We work with global company leaders and leverage innovative sourcing strategies to anticipate trends and stay ahead of global disruptions. Our innovation consulting services help your company unlock new business opportunities, provide a fresh perspective to create value for customers and bring high-impact results in your market and industry.

Innovation Services

Our procurement consultants bring hands-on support to various sourcing and purchasing areas in your company to champion innovative solutions to fuel company success. We identify problem areas, investigate opportunities and empower collaboration to integrate both internal and external R&D. Sourcing Champions’ innovation journey is a holistic approach in which we cooperate closely with the client to strengthen its innovation system and make innovation happen. Our innovation journey services include:

Innovation Diagnosis

We take an internal and external scan of how your company supports innovation capabilities compared to competitors and with regards to industry trends. We help understand customer demands and needs in your industry and market, and identify attractive areas for innovative solutions.

Diagnosing innovation Capabilities
Benchmarking
External market analysis
Identify innovation gaps

Innovation Strategy

To support company innovation, we help set clear strategies and strengthen team formations to lead company change and provide direction for new process developments.

Providing Fresh Visions
Exploring and Identifying Opportunities through innovation sourcing events

Innovation Boost

We boost innovation strategies by providing and guiding your company with the right resources and network.

Integrate external parties
Project boost

Innovation Support

Innovation is a never-ending cycle and continuously demands new attention, investment and skill building. We provide hands-on support to navigate company changes, bring in new skills and develop innovative company environments to foster future opportunities. We help set up and guide strong teams to lead innovation in sourcing and purchasing practices to boost creative idea developments and problem-solving.

“We organize successful supplier innovation and top supplier conventions to collaborate on and fast-track innovative ideas.”

Innovation Fuels Business Success

As global trends and digitalization impact companies’ capabilities and future, we help include innovation sourcing into procurement strategies to turn global risks into opportunities to deliver long-lasting high-impact results.

Sourcing innovations encompass all institutional activities aimed at procuring innovative and added-value activities in order to complement your company’s competences and purchasing activities. Innovation sourcing enhances your company’s product and service offerings, reduces unnecessary costs, improves sourcing efficiency, and even provides sustainable and responsible procurement practices. Through novel business practices, we help your company establish opportunities in new markets, revenue streams and product & service offerings.

Open Innovation is the approach to include external R&D to enhance internal innovation efforts focused on company needs. Senior-level executives need to encourage innovation from all sources, and should to support and engage suppliers that are most likely to provide novel solutions. The combination of internal R&D with externally sourced ideas and resources can be a powerful solution to strengthen your market position while exploring opportunities in new market and product areas. We help integrate your customer’s visions and map out strategies to bring innovative visions come to life in business operations.

Supplier Engagement for Innovative Sourcing

With global supply chains becoming more fragmented, companies are tasked with identifying right opportunities, mitigating supply chain risks and managing fast-paced changes within sourcing strategies. Instead of being driven by change, we support your company to take the steering wheel and drive the change themselves. While globalization provides organizations the opportunity to adopt external talent, suppliers and customers in overseas markets, companies should likewise embrace collaborations beyond first tier suppliers to explore innovations outside their organization.

Suppliers are key contributors to your financial and non-financial results and should be included in innovative procurement transformations. Sourcing external ideas reduces risk and accelerates adoption times, allowing your company to become an early adopter and industry leader. We help approach and integrate supplier capabilities and resources in you procurement processes to boost your company’s strategic alliance, external networks and competitive position within markets.

Innovation Sourcing Events

Innovation events are the way for your company to get in touch with different suppliers and explore outside opportunities in product innovation. Suppliers present concepts and prototypes integrating their newest innovative solutions, ideas and materials. These innovation events form hubs of digitalization and upcoming trends, allowing your company to expand market knowledge, get in contact with the right suppliers and build an innovation network.

Innovative Sourcing Interventions

In our experience, clients that integrate the concept of innovation sourcing with sustainable sourcing strategically position themselves in the market better than their peer competitors. We support your company’s procurement innovation sourcing strategy through the following interventions:

Improving supplier relationships

Improve and invest in supplier relationships and expand supplier contact to second and third tier suppliers to align innovative procurement strategies and integrate them across the supply chain.

Exploring external sourcing opportunities

Source and grow a procurement talent team with new skills and profiles outside your internal organization.

Buying innovation

Look beyond internal R&D plans and invest in new innovative sources and external research projects.

Co-sourcing across and within innovation sectors

Set up a collaborative supply base across sectors to develop market and product opportunities and expand current offerings

Identifying innovation gaps in product and service offerings

Compare products to future needs and digital trends

Develop customer engagement strategies

Clients often hold a clear vision of companies. Through closer customer relations, companies can understand who their clients are and their specific needs to define innovative ideas from early ideation