What are the most important factors to consider when balancing stakeholder needs in procurement innovation?

Using a force field analysis to understand stakeholder landscape is helpful in a complex environment - i.e. who are supportive and who are not. This can help prioritize different actions to collaborate closely with advocates and manage others who are not so supportive and launch actions to address their issues.

Once short listed all the needs, those must be segregated to must and wants. We just can't compromise on must as any compromise there will affect the basic purpose and performance of such products. Once done then we can priorities other needs of the stakeholders depending on its impact and value proposition.

As a start, execute Business Needs Analysis of the stakeholders with emphasis at the minimum; Regulatory requirements, cost, quality, service, continuity of supply and lead time.

We need to take care when we are dealing with many stakeholders involved within an organisation, knowing how to manage them is important. Here are the eight fundamental elements of stakeholder management. ? Support: Be supportive throughout the process ? Empathy: Listen to their worries, needs and concerns and act ? Transparency: Keep stakeholders up to date ? Communication: Share information with your stakeholders ? Feedback: Give regular feedback on organisations activities ? Consultation: Ask for their feedback and consult with stakeholders before making decisions ? Engagement: Engage in active discussions and involve stakeholders at all levels ? Inclusion: Make sure stakeholders are included within organisations activities

1- identify who will be affected by the project. 2- identify thier needs and expectations. 3- identify level of interest and influence. 4- identify current level of commitment. 5- identify relationship owner for each stockholder. 6- decide how to engage and communicate. 7- provide status updates. There are 4 types of stockholders as per thier influence and interest level on business , so we can map out the relationships based on that. 1- high influence with high interest: work closely with them they are the key players. 2- high influence with less interest: keep satisfied. 3- high interest with less influence : keep informed. 4- less influence and interest: minimum effort.

It's also important to understand that stakeholders may have priorities that conflict with the specific initiative at hand. Often what's seen as stakeholder resistance is actually a disconnect between how a Sourcing initiative will help stakeholder(s) achieve business goals/priorities. Here identifying their needs and collaborating with them to "connect the dots" around how initiatives will benefit the stakeholders and ultimately the businesses are key starters for successful stakeholder engagement.

Effective communication and collaboration with stakeholders is key to successful procurement innovation. Clear channels of communication, tailored messaging, and involving stakeholders in co-creation are crucial. Leveraging tools like newsletters, webinars, and workshops can enhance engagement and collaboration throughout the process.

Management should only approve procurement projects or sourcing initiatives if the responsible buyer can prove, that all stakeholders are informed and given their buy-in into the upcoming process.

In my experience, even before procurement activities begin, during the planning stages, it is crucial to collaborate with stakeholders in order to involve them in the process, so that the expectation for the outcome is aligned with the reality of the market. This prevents frustration due to gaps and offsets. During this planning stage, the relevant activities would be to prioritize and unify concepts that revolve around the iron triangle: Scope, Budget and Schedule. These prior actions will create cohesion and teamwork, and lead to a more satisfying outcome for stakeholders.

Having full transparency of all the needs of the stakeholders, in day-to-day business is quite difficult. Especially while the speed of those processes is accelerating and well-balanced compromises need time.

Using a weighted selection criteria matrix would provide transparency and non-biased decisions considering all needs of the stakeholders. the weightage can be assigned based on the criticality of each criterion for the nature of procurement and the end goal. this would facilitate the selection of the most value-creating option from the quotes received.

Monitoring and evaluating stakeholder satisfaction and value involves regularly gathering feedback, analyzing data, and assessing the impact of procurement initiatives on stakeholder needs and expectations. Utilizing surveys, performance metrics, and ongoing communication helps gauge satisfaction and value, guiding adjustments and improvements to better serve stakeholders.

Often the focus is only on performance measures of suppliers. But also the transparency of internal processes is needed, to improve the satisfaction of all involved stakeholders.

A good balanced plan-to-strategy process can support the identification of needs and the frame conditions, which might be adopted over time of contract periods.

When considering technology advances in supply chain, consider the present technology roadmap for the company and how your proposed improvement fits. What resources does it require to implement including stakeholder time, resources and support both in the project management phase and also operational phase.

Being on the same page. Stakeholder management is to have all the stakes involved to be on the same page in terms of project status. Regular connects, coffee catch ups and just a simple text could help achieve the better goals.

Introduzir um sistema de compras online que harmoniza fornecedores, promove produtos sustentáveis e incorpora inteligência artificial para antecipar demandas é um exemplo elegante de inova??o em Compras. Esta abordagem n?o apenas otimiza processos, mas também reflete um compromisso refinado com a sustentabilidade, elevando a eficiência e a responsabilidade corporativa.