Procurement’s Role in Open Innovation
The North Carolina State University‘s website reported on a talk by Steve Baggott, the leader of Procter and Gamble’s Connect+Develop open innovation program at a Procurement Leaders conference where he discussed importance of changing views of working with suppliers. Baggott emphasized connectedness – identifying ecosystems outside the enterprise with whom you can connect to accelerate. This might include retirees from P&G and alumni, who have a vested interest, universities, research institutions, two guys in a garage, etc. But what is important about this connectedness is the importance of strategy. He notes that 80% of the time C+D is seeking out specific innovation needs that are strategic – and looking for solutions to those innovation needs.
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