Supplier Partnerships in the Digital-First Economy: How To Create Value and Drive Innovation

The report highlights the importance of supplier partnerships in the digital-first economy. It emphasizes that in a time of transformation, building business partnerships is critical for organizations to create value and drive innovation. The report suggests that while digital has driven agility, supplier relationship management is not outmoded and most procurement functions are experienced at segmenting their supplier base. However, not all strategic supplier relationships are true partnerships. The report suggests that true partnerships bring two corporate cultures together, enabling organizations to achieve their goals more effectively. The report also notes that the percentage of B2B sales interactions between suppliers and buyers that will occur in digital channels by 2025 is expected to be around 80%.