Mark Perera, CEO of Vizibl, explains: “Today, companies face a wide variety of challenges including an increasingly competitive market filled with disruptive industry newcomers, internal talent shortages, supply chain shortages and diversifying consumer demands. All of which often require a rethink or even an overhaul of existing business models. This is why tapping into supplier innovation is so critical. Suppliers have their own talent pool, a wealth and breadth of knowledge across competitor organisations, insights from other verticals, and an intimate understanding of local markets. Supplier innovation is also quicker to commercialise than home-grown ideas, conveying competitive advantage on the organisations that can harness it effectively.”
Launched last year in beta, Vizibl’s extended Innovation Hub functionality is designed to overcome these barriers, providing a single, centralised location where organisations can launch and manage business initiatives that tap into the value of their suppliers.
Read the latest edition of PCR’s monthly magazine here: