article thumbnail

Thought leader: How to get early supplier involvement right

Procurement Leaders

Part of the explanation was the then famous ‘Toyota Production System’, an approach to organising manufacturing and logistics efficiently and without waste. Moreover, Toyota, in particular, had set up ingenious systems for collaborative product development by delegating tasks to its closely connected suppliers – its supplier keiretsu.

Suppliers 130
article thumbnail

Essential Guide to Supplier Collaboration

Jaggaer

Strong supplier partnerships drive new product development, unlock cost efficiencies, and ensure supply chains are adaptable to changing market conditions. These partnerships are also key to responding swiftly to disruptions, whether due to supply chain constraints or shifting consumer demands.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

PMI’s approach to collaborating cross-functionally to transform its new product strategy

Procurement Leaders

With the company rapidly becoming a leader in smoke-free products, including heated tobacco devices and e-cigarettes, it successfully built a supply base in the highly competitive electronic devices market. Product Creation – led by product development. Implementing a new operating model. New team structure.

article thumbnail

Strategic sourcing enters a new age. Are you keeping up? (Part 1)

ivalua

Good strategic sourcing starts with an understanding of the goals and priorities of the business and product groups you support, including their long-term strategies and plans. And face time is not limited to only stakeholders.

article thumbnail

Beyond enabling technology: digital platforms will transform procurement organizations into critical contributors to competitiveness and growth

ivalua

Examples: working collaboratively with product development to reduce time to market and solve production problems. Examples: using emerging sensor technologies to signal demand, track supplier shipments and measure delivery performance. Becoming “one” with an expanded ecosystem of suppliers.

article thumbnail

Mattel leverages diversified supply chain amid new China tariffs

Let's Talk Supply Chain

Foster Innovation: Collaborating with global partners brings fresh perspectives and ideas to the table, fostering innovation and enhancing product development capabilities. Enhance Versatility: With diversified partners, Mattel can swiftly adapt to tariff changes and market fluctuations, maintaining operational agility and efficiency.

article thumbnail

The New Procurement Reality: Managing the Supply Chain with Artificial & Human Intelligence

Jaggaer

I am a big believer in procurement getting involved as early as possible in new product development based on all the market knowledge available. The worst-case scenario is product engineering developing a new product, selecting a supplier and then telling procurement to get on with negotiation.