Latest / The Buyer's Side with Fexingo: Procurement, Sourcing, and B2B Purchasing Decisions
How One Buyer Cut Costs with a Supplier Innovation Challenge
In this episode of The Buyer's Side, Lucas and Luna explore how a mid-sized manufacturer used a supplier innovation challenge to cut procurement costs by 16 percent. They break down the structure of the challenge, the scoring rubric, the IP handling, and the unexpected win: a packaging redesign that saved $2.1 million annually. Learn how to run a similar challenge without burning supplier goodwill, and why small prizes can unlock big ideas. Listeners get a concrete roadmap for launching their own innovation challenge, including how to frame the problem, set evaluation criteria, and avoid…
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