APAC CIOOutlook

Advertise

with us

  • Technologies
      • Artificial Intelligence
      • Big Data
      • Blockchain
      • Cloud
      • Digital Transformation
      • Internet of Things
      • Low Code No Code
      • MarTech
      • Mobile Application
      • Security
      • Software Testing
      • Wireless
  • Industries
      • E-Commerce
      • Education
      • Logistics
      • Retail
      • Supply Chain
      • Travel and Hospitality
  • Platforms
      • Microsoft
      • Salesforce
      • SAP
  • Solutions
      • Business Intelligence
      • Cognitive
      • Contact Center
      • CRM
      • Cyber Security
      • Data Center
      • Gamification
      • Procurement
      • Smart City
      • Workflow
  • Home
  • CXO Insights
  • CIO Views
  • Vendors
  • News
  • Conferences
  • Whitepapers
  • Newsletter
  • Awards
Apac
  • Artificial Intelligence

    Big Data

    Blockchain

    Cloud

    Digital Transformation

    Internet of Things

    Low Code No Code

    MarTech

    Mobile Application

    Security

    Software Testing

    Wireless

  • E-Commerce

    Education

    Logistics

    Retail

    Supply Chain

    Travel and Hospitality

  • Microsoft

    Salesforce

    SAP

  • Business Intelligence

    Cognitive

    Contact Center

    CRM

    Cyber Security

    Data Center

    Gamification

    Procurement

    Smart City

    Workflow

Menu
    • PLM
    • Cyber Security
    • Hotel Management
    • Workflow
    • E-Commerce
    • Business Intelligence
    • MORE
    #

    Apac CIOOutlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIOOutlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    • Home
    Editor's Pick (1 - 4 of 8)
    left
    The Evolving Product Lifecycle Management Landscape

    David DiLeo, CIO, Industrial Scientific Corp

    Evolution of Information Technology

    Joe Sheridan, Corporate Director Of IT & CIO, Soave Enterprises

    At the Cross-Section of PLM and Technology

    Brian Parnes, CIO, VP of Marketing, Design & Product Development, Downlite

    Managing Technology at 360 Degrees

    Jeff Palm, CIO, Allianz Life

    Schiavello Manages Risk Exposure with Document Management

    Bernard Wansink, CIO, Schiavello Group

    Building a Cognitive Business

    Kenny Hay, Director of Cloud, IBM ASEAN

    Have You Done All You Could to Prepare for a Data-intensive, AI-enhanced Future?

    Michael Alp, Vice President, Pure Storage Asia Pacific and Japan

    Want Your Next Project to Succeed? Engage Your Stakeholders

    Billy Ingram, Director of Lean Product Development, Interface

    right

    Suppliers as Innovation Partners for Next Generation CXOs

    GH Rao, President, Engineering Services, HCL

    Tweet
    content-image

    GH Rao, President, Engineering Services, HCL

    As the global economy shifts from more traditional business models to newer innovative ones, growing in complexities and spreading across geographies, executives across all industries face increasing pressures in this challenging environment. Chief Experience Officers (CXOs) need to catch up with business priorities, balance innovation with productivity and sustain high levels of top-line growth. The most pressing concern is to accelerate time-to-market while continuously innovating and keeping an eye on cost-efficiency. CXOs must play the difficult role of being the next generation catalyst helping businesses adapt to this accelerating pace of change.

    “It is critical to channelize and optimize business processes by adopting a collaborative approach and crowd sourcing to solve critical business problems and gain a competitive edge”

    The need to innovate requires significant development costs that can easily outstrip the benefits generated by sales. The R&D productivity of companies is leveling off and the advent of disruptive technologies is putting enormous pressure on the R&D budgets of even the most aggressive engineering spenders. Instead of shouldering all the risks and investments internally, enterprises are looking at an entirely new approach to innovation that is likely to involve a fraction of costs with a shared risk model. In their competition for market share, companies realize that they can’t solely rely on the internal R&D efforts to drive the kind of growth desired. Collaborative innovation is the key to sustaining high levels of top-line growth. While it is imperative to capitalize on changing trends and emerging opportunities, it is also critical to channelize and optimize business processes by adopting a collaborative approach and crowd sourcing to solve critical business problems and gain a competitive edge. Companies are reshuffling their internal capabilities by partnering with various suppliers to leverage their expertise and pursue value-driven growth.

    Vendors typically assist in integration and customization of services, and their roles in optimizing customers ‘innovation portfolios will only increase in importance in the years to come.
    They accelerate innovation efficiency by sharing development costs and reducing time to profit. Collaborative supplier innovation also paves the way for capturing a price premium through product and service differentiation. By bringing in fresh perspective to reveal new insights, suppliers can jointly co-innovate. To become an innovation partner, the supplier must move from being a technology enabler to a strategic partner by understanding the needs of the customer’s customer and translating their business strategy to operational reality. It is therefore imperative to effectively align the supplier’s objectives with the customer’s business strategy. It is essential to first classify business priorities into core and non-core activities, based on competence level and capabilities of the company internally and those of the suppliers. A clear consensus on this will resolve intellectual property issues and help in managing time and quality well.

    An AT Kearney research note revealed that 90 percent of leading companies have a structured process for collaborating with the suppliers, but only 54 percent of them are actually able to implement it successfully. The entire company has to work cross-functionally to enforce collaborative supplier innovation. Managing a complex supplier network to generate value also demands support. The procurement has to go beyond typical vendor relationship management, incorporating stringent measures for supplier innovation performance to select and manage suppliers effectively. Another responsibility includes charting out a path for future development and managing the overall innovation lifecycle. Each innovation-led success goes a long way in motivating suppliers to position themselves favorably in the value chain.

    Companies are seeking suppliers ‘support for platform development to devise standardized solutions catering to more than one business need, spanning across different functions within the organization. An integrated development platform can simplify the development process in the long run. These product or technology platforms aid in scaling innovation through different stages and across different businesses. This also provides a higher ROI to the suppliers and helps them expand their capabilities to newer areas. This partnership model results in unprecedented success for both the partnering companies.

    Most CXOs are working hard to bring business goals to reality and suppliers act as key contributors in driving growth through an open innovation strategy. The increasing breadth of businesses that companies are dealing with creates unprecedented opportunities to connect capabilities with technology across all functions in unforeseen ways to create game-changing breakthroughs. This often compels big organizations to maintain a less diverse but strong supplier portfolio to strengthen their capabilities, achieve greater cost efficiency and foster continual innovation to deliver leading-edge products. Many customers are going through a vendor consolidation cycle to mature to this level.

    Suppliers can contribute in various areas including market research, technology research, design, development, packaging, sales and distribution, and more. The percentage of organic net revenues coming from supplier contribution is rising over the years in large organizations. With increasing pressure from emerging technologies and amidst shrinking innovation budgets, suppliers that deliver value through meaningful and intelligent engagement will be in an advantageous position in the market. Suppliers’ abilities to reshape business operations by leveraging technology to improve innovation performance would be the biggest differentiator.

    Co-creating innovation is the new business mantra for the next-gen CXOs and the dire need for suppliers is to metamorphose into innovation partners.

    tag

    ROI

    Weekly Brief

    loading
    Top 10 PLM Companies - 2018
    ON THE DECK

    PLM 2018

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    Read Also

    Advancing the Chemical Industry through Digital Transformation

    Advancing the Chemical Industry through Digital Transformation

    Jan Mandrup Olesen, Global Head of Digital Business, Indorama Ventures
    Cultivating a Sustainable Future through Collaboration

    Cultivating a Sustainable Future through Collaboration

    Jiunn Shih, Chief Marketing, Innovation & Sustainability Officer, Zespri International
    Mastering Digital Marketing Strategies

    Mastering Digital Marketing Strategies

    Tasya Aulia, Director of Marketing and Communications, Meliá Hotels International
    Building a Strong Collaborative Framework for Artificial Intelligence

    Building a Strong Collaborative Framework for Artificial Intelligence

    Boon Siew Han, Regional Head of Humanoid Component Business & R&D (Apac & Greater China), Schaeffler
    From Legacy to Agility Through Digital Transformation

    From Legacy to Agility Through Digital Transformation

    Athikom Kanchanavibhu, EVP, Digital & Technology Transformation, Mitr Phol Group
    Change Management for Clinical Ancillary Teams: Aligning Practice with Policy and Progress

    Change Management for Clinical Ancillary Teams: Aligning Practice with Policy and Progress

    Ts. Dr. James Chong, Chief Executive Officer, Columbia Asia Hospital – Tebrau
    Digital Transformation: A Journey Beyond Technology

    Digital Transformation: A Journey Beyond Technology

    John Ang, Group CTO, EtonHouse International Education Group
    Building A Strong Data Foundation: The Key To Successful Ai Integration In Business

    Building A Strong Data Foundation: The Key To Successful Ai Integration In Business

    Richa Arora, Senior Director Of Data Governance, Cbre
    Loading...
    Copyright © 2025 APAC CIOOutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy and Anti Spam Policy 

    Home |  CXO Insights |   Whitepapers |   Subscribe |   Conferences |   Sitemaps |   About us |   Advertise with us |   Editorial Policy |   Feedback Policy |  

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://plm.apacciooutlook.com/cxoinsights/suppliers-as-innovation-partners-for-next-generation-cxos-nwid-573.html