The CPO of a large Biotech company is inviting 1.8 million global suppliers to join tealbook
Conventional thinking: “We are trying to reduce our supplier base, not increase it. Why on earth would anyone invite 1.8 million global suppliers to be considered for new business opportunities? ”
Disruptive thinking: “I need to give my team instant access to enriched, updated supplier intelligence that will allow them to find and consider the very best candidates to support all areas of our business.”
The above example illustrates the difference between how conventional and disruptive CPOs think. The disruptor is a visionary and an innovator. He knows that social media-like technology can fuel his team and processes. He believes in giving his team instant access to enriched and updated supplier intelligence will allow them to find and consider the very best candidates to support all areas of their business. He also believes it shouldn’t be so difficult and time consuming for buyers and sellers to find each other, especially in the case of innovative startups and diversity suppliers. He believes that buyers should not have to spend time on Google to find qualified partners – especially when they could use crowdsourced intelligence to incorporate deep insight, internal knowledge, and industry peers’ perspective.
A disruptive thinker knows that accelerated supplier discovery can exponentially increase the scale and productivity of procurement teams by turning them into powerful sources of information and enabling teams to move faster. Supporting more initiatives allows them to bring more spend under management, thus lowering their threshold and exceeding their savings targets.
The disruptive CPO wants to fix what does not work. He does not believe in spending millions of dollars and months on software implementations just to end up beating people with sticks to drive adoption. He knows he can bolt on best in class technologies that can be integrated to positively influence and impact his organization.
So why is this particular CPO inviting 1.8 million suppliers to join tealbook? Because he knows this can all be accomplished with a single source of truth that is enriched, updated and optimized by suppliers and peers. He wants to change the game for his company and for his industry, and this is the most disruptive way to affect supplier discovery and build a legacy. That you agree with him or not, you will thank him for it sooner or later for his contribution in building the most valuable source of supplier intelligence and discovery for your team.