Incremental innovation is today business as usual, and a disruption of one’s business is no more a next step in evolution, but rather a matter of survival. This is not only a wake up call for corporations, but also for many roles and functions as well.
According to some predictions, 90% of future outside-in innovations will come from the 3rd parties we don’t work with today and in the Internet of Everything universe the majority of our supplier (and customer) interfaces could be autonomous machines. New questions are being raised, like how do we position ourselves as a customer of choice toward intelligent machines, and the Supplier Relationship Management (SRM) orthodoxies are turned on their heads, questioning a focus on selected, strategic suppliers in today’s reality, where the new value comes out of nowhere and at the same time from everywhere?
In order to stimulate innovation, enable new business models, bring in new technologies and support entry into new markets, it is required to expand the focus and look beyond the traditional supplier portfolio, and to engage also with start-ups/incubators, subject matter experts, universities and crowds.
Instead of limiting the value creation to a singular (strategic) customer-supplier business relationship, the quantity and quality of the business opportunities would multiply when connecting to supplier / partner / customer ecosystems, when connecting to collaboration platforms and when connecting to Things.
To adopt to the new brave world of working and collaborating with a crowd, liquid workforce, networks and things, next to traditional supplier base, SRM is evolving toward a platform service. As a part of the multi-sided platform for 3rd party engagements, enabled by Internet of Everything, the future SRM with the support of cognitive computing (match making) technology will still do what it has originally been designed for: managing the relationships between people and businesses (and things)!
Check out our dedicated Open Ecosystem Network website
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