Innovation Broker: Procurement’s Next Frontier – Art of Procurement Podcast

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We recently had a great opportunity and were invited to sit down and have a meaningful conversation with Philip Ideson, founder of Palambridge as part of the Art of Procurement Podcast he hosts.

Our talk focused on one of our key mutual passions, that is, working to move procurement organizations from savings only thinking and migrating to be a revenue engine for growth.

Some highlights are below, so if you have some time, grab a cup of coffee, plug in, and give a listen.

http://artofprocurement.com/innovationgarage/

Some key takeaways;

“It is critical in infuse system based thinking into the pursuit of supplier enabled innovation. Systems to create ideas, systems to communicate them, and systems to commercialize them. That will scale into a future of innovation.  You want to encourage a culture that can fail fast and do small scale experiments on innovation that limits the risk.”

In this episode, you will learn:

  • How we define innovation
  • Why innovation is a lot broader than just product design
  • 5 elements that are key to infusing innovation into an organization
  • The importance of mindset in shifting from a savings-first focus to one that encompasses other value levers
  • Why we believe that procurement is perfectly positioned to be innovation brokers
  • Why repetition breeds culture, and how that applies to innovation.
  • How enabling internal innovation pioneers to flourish encourages others to follow their lead.

Links and Resources:

At The Innovation Garage®…

We help organizations become more profitable. We build strategy. We build ideas and the capability of teams. We design products, services and supply chains.

We guide leaders from startup to the Global Fortune 50 to intentionally self-disrupt their offerings and organizations.

We provide world-class education, tools and technology on how to craft business operating systems focused on long-term profitable growth.

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