Likely bedfellows - Procurement and Innovation

Likely bedfellows – Procurement and Innovation

Milan Panchmatia Blog, Procurement

4C Associates’ Milan Panchmatia explores the complex and evolving relationship between procurement and innovation. The word ‘innovation’ is overused. It has become one of the cornerstones of corporate jargon and in doing so has lost much of its meaning. To innovate means to do something new. That does not necessarily refer to a completely new product, but also to finding …

‘Keeping Up with the Joneses’ – Cutting-Edge Procurement

‘Keeping up with the Joneses’ – Cutting-edge procurement

Jeremy Smith In the press

At a first glance, procurement and innovation come across as unlikely bedfellows. Whereas one is historically focused on delivering short-term savings, the other is more outward-looking and engaged in delivering less tangible results – at least in the short term. This outdated view of procurement’s relationship with innovation continues to persist in a number of companies despite numerous developments. An unstable …

Meaningful innovation (part two)

admin Blog, Innovation 0 Comments

Speaking at The Economist’s CFO Summit 2013, Hal Gregersen, Professor of Leadership at INSEAD, examined how CFOs can foster innovation to prepare their businesses for the future. After ascertaining that innovative thinking is two thirds nurture and one third nature, Gregersen set about developing a process which would help people harvest their creative ability. Working with a team, he examined the behaviour …

Meaningful innovation (part one)

admin Blog, Innovation 0 Comments

Innovation is a word that gets thrown around a lot. In many sectors it has become an integral part of corporate jargon and has been overused to the point that many have forgotten its true meaning. In the current economic climate, where innovative thinking is vital to surmounting new challenges, companies cannot afford to stagnate. Speaking at The Economist’s CFO Summit …

Reverse innovation – book review

admin Blog, Innovation 0 Comments

As much of the global economy continues to evolve in a difficult environment, the notion that innovation stems from the more developed nations is increasingly inaccurate. The term “Reverse Innovation” refers to an innovation which has its roots in the developing world but is eventually embraced across the globe.In Reverse Innovation, Vijay Govindarajan and Chris Trimble encourage businesses to focus …

Growth through innovation Roundtable 2012

admin Blog, Innovation 0 Comments

Speaking to the Treasury Select Committee, Bank of England Governor, Sir Mervyn King said; “When this crisis began in 2007, most people did not believe we would still be here. I don’t think we’re yet half way through this. I’ve always said that and I’m still saying it. My estimate of how long it will take to recover is expanding …

Frugal innovation in healthcare

admin Blog, Innovation 0 Comments

Frugal or ” Jugaad” innovation is a concept which is being embraced by businesses across various sectors. One aspect of this movement, which is particularly relevant to the healthcare sector, is producing low tech alternatives to more complex products.Companies such as General Electric and Siemens, which produce some of the globe’s most expensive and complex pieces of medical equipment, are looking …