SVM Is Uniquely Positioned To Connect Innovation Leadership To Innovation Services

Amid the ups and downs of the global economy, the interest in innovation among senior business leadership has only increased. Most CEOs recognize that in a business environment characterized by higher levels of uncertainty and risk, the ability to generate and sustain innovation programs will be a crucial element of long-term differentiation and growth. Despite this executive-level focus, however, corporate leadership often lacks the strategy and tools to support a comprehensive innovation agenda — leading to challenges and frustration among employees. Sourcing and vendor management (SVM) professionals who want to play a more strategic role in their organizations need to understand the diversity of players in an innovation ecosystem that includes strategy consultants, technology services, product management providers, product development firms, and idea management services. With knowledge of this market, SVM executives can ensure that their IT and business counterparts are working with the right innovation partners at the right time. In the process, they can establish their role as a crucial partner in the innovation process.