Leading companies recognise they can harness the expertiseof key suppliers
To avoid such supplier fatigue , it is up to the chief executive and
their leadership team to create the environment and corporate
culture needed to encourage innovation with suppliers . At Harley -
Davidson , for instance , the company has adopted a partnership
approach and works hard to engage its suppliers in design and
product development , even bringing bikes and other merchandise
to supplier meetings . And Bang & Olufsen , the high - end audio
equipment business , builds a sense of partnership by offering
strategic suppliers benefits such as staff discounts that are normally
only available to employees .
Alongside these softer relationship initiatives , it is a good idea for
companies to develop a strong process for evaluating and providing
feedback on ideas that are proactively suggested by suppliers . This
should be transparent and offer clear time frames so that all involved
know where they stand . An equivalent process for handling
innovation requests – where the company crowdsources ideas from
its supplier base – is just as important .
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