UNLOCKING INNOVATION IN YOUR SUPPLY CHAIN: Five Collaborative Insights for Life Science
Keeping pace in an era of fast-evolving technologies places ever-greater demands on any single business. Recognizing the nature of such challenges, a growing number of leading firms are doing more to leverage the resources and creativity of those with whom they are already in business: their suppliers.
Though the focus of our research was life science, two additional industries, pharmaceuticals and aviation/ aerospace, were also examined due to deep similarities. Developing an advanced life science instrument is like developing a drug, which is like developing an airplane. Each of these sectors faces profound complexity. Each requires unequivocal repeatability/reliability, and each must continuously meet a wide range of strict regulatory and performance goals.
Overall, this paper explores the maturity of, and approach to, supplier collaboration. Specifically, it tackles the speed of change and companies’ ability to handle it, as well as the role of supplier collaboration in competitive advantage.