The Co Creation Edge Harnessing Big Data to Transform Sales and Procurement for Business Innovation 1st Edition by Francis Gouillart, Bernard Quancard 1137526779 9781137526779

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ISBN-10 :  1137526779 

ISBN-13 :  9781137526779

Author:  Francis Gouillart, Bernard Quancard 

Rapid changes in business along with better informed customers threaten the traditional sales and procurement process.   Thousands of sales and procurement people are threatened with extinction, yet all is not destined to be doom and gloom.  A new way of partnering between these two roles can, in fact, create significant value for both organizations.    Sales and procurement professionals have a bright future ahead of them if they can respond to six trends that the authors have identified in the business-to-business world. Each trend offers an opportunity to develop a new skill for sales and procurement professionals and adopt a new practice.  Because these practices are not yet widely adopted as “best practices”, the authors coin them “next practices.”  These trends include:  working together to solve complex problems; organizing problem-solving networks across company boundaries; creating processes for live cross-company engagement; facilitating data driven, cross-company interactions fed by digital platforms; providing new personal experiences for individuals and lastly (and most importantly) creating new sources of value for firms.   If these trends are adopted by organizations, the ability to co-create means providing significant value to both the sales management team at the supplier  and the purchasing  management team at the customer. With the alternative being that these job functions will be replaced by web-based or channel-based alternatives that will do most of what they do today at a fraction of the cost. Increasingly, there is no middle ground anymore. SAMs and senior buyers will either evolve into high value-added sales and procurement professionals, or disappear. 

 

The Co-Creation Edge: Harnessing Big Data to Transform Sales and Procurement for Business Innovation 1st Table of contents:

Chapter 1 The Changing World of Sales and Procurement
1 Trend #1: The Problems that Companies’ Sales and Procurement People Are Asked to Tackle Are Broader and More Complex Than Ever
2 Trend #2: Sales and Procurement Networks Are Becoming More Diffuse and Complex
3 Trend #3: People Expect Problems to Be Solved in Real Time as a Group
4 Trend #4: Big Data Has Arrived in Sales and Procurement
5 Trend #5: Sales and Procurement Professionals Use Their Own Transformation to Transform the Work Experience of Others
6 Trend #6: Sales and Procurement Professionals Are Asked to Constantly Reinvent the Business Model of Their Firms
7 Implications for Strategic Account Managers and Senior Procurement Managers
Chapter 2 The Co-Creation Cycle
1 Can We Formulate a Problem or Opportunity that Account Managers and Procurement Agents Can Solve Together? (Become a Problem-Solver)
2 How Can We Identify and Recruit a Mini-community of People on the Supplier and Customer Required to Tackle that Problem/Opportunity? (Become a Community Organizer)
3 Can We Find a Place or “Engagement Platform” Where This Mini-Community of People Can Come Together in Live Fashion? (Become an Event Planner)
4 At the Event, How Can We Help Formulate Questions or Hypotheses the Group Would Like to Answer, or Test, with the Help of Data? (Become a Group Facilitator)
5 Can We Use, or Encourage, the Development of a Technology Platform Linking the Two Companies to Secure the Necessary Data? (Become a Technology Advocate)
6 Can We Use the Data Generated to Create Insights into How the Questions or Hypotheses Can Be Answered or Validated? (Become an Analytics Story-Teller)
7 Can We Organize New Interactions with New Players Around the Data-Driven Insights You Have Generated? (Become an Organizational Coach)
8 Can We Foster a Sense of Shared Experience Across Members of Both Firms as a Result of the Effort? (Become an Empathy Bridge-Builder)
9 How Can We Devise a Way to Share the New Value Created Between Supplier and Customer? (Become a Value Innovator)
10 How Can We Move on to the Next-Order Problem, Having Earned the Right to Do So? (Become a Transformation Agent)
Chapter 3 The Strategic Relationship-Building Process
1 The Dream: Discover the Opportunity and Get Organized
2 The Dance: Envision the Value and Assemble a Joint Team
3 The Date: Engage as One Team and Connect Emotionally
4 The Commitment: Finalize Value, Negotiate and Close
5 The Long-Term Relationship: Deliver and Document Value
6 The Family: Expand Value in All Directions
7 The Value Co-Creation Map (VCM), a Key Tool for SAMs and Senior Buyers
Chapter 4 The Dream: Discover the Opportunity and Organize Internally
1 Research the Partner Company and Formulate the Problem You Want to Tackle
2 Mobilize the Internal Coalition and Figure Out Who to Pair Them with on the Partner Side
3 Host an Internal Workshop with Your Team
4 Frame Early Questions and Hypotheses on What to Engage the Partner on
5 Envision the Platform and Process Through Which You Will Gather Additional Data with the Help of the Partner
6 See What You Can Prove with the Data You Already Have, and Extrapolate from There
7 Visualize the New Interactions You Want Your Company to Have with the Partner Company
8 Imagine What’s in It for All Parties, Starting with Your “Work with” Partner
9 Formulate the Corporate Value Pitch for Your “Work with” Partner
10 Pitch the Approach to Your “Work with” Partner
Chapter 5 The Dance: Envision the Value and Assemble a Joint Team
1 Adapt Your Problem Formulation to What the Other Party Wants to See Addressed
2 Create a Face-Off Plan for Each Stream of Work You Design and Recruit the Team Members Needed for the Effort on Both Sides
3 Get the Team Mobilized and Aligned on the Formulation of the Problem
4 Agree on the Specific Hypotheses You Want to Tackle
5 Envision the Platform and Process Through Which You Will Gather the Needed Data
6 Experiment with the New Platform and See What the Data Shows
7 Design and Scale the New Process of Interaction Based on the New Platform You Have Devised
8 Unleash a Current of Personal Empathy Between Key Players
9 Identify Early Value Created and Create a Buzz Around It
10 Envision How the Initial Platform Can Be Expanded to Create New Forms of Value
Chapter 6 The Date: Engage as One Team and Connect Emotionally
1 Decompose the Problem into Its Components and Organize into Streams of Work
2 Discover over Time Whom to Engage on Each Stream of Work
3 Ensure That Each Team Develops a Structured Process of Engagement, Has the Necessary Tools, and Creates a Regular Review Schedule
4 Help Each Team Develop an Explicit Articulation of a Hypothesis on How It Will Solve Each Problem
5 Figure Out What Data Platform You Can Use or Build to Generate Data and Introduce that Platform
6 Crank the Data and Invite Interpretation of Its Meaning
7 Create Frequent Give-and-Take Updates, Over-Communicate, Tell Stories and Over-React to Guidance
8 Create Excitement Toward Change
9 Aggregate Early Value, Estimate ROI and Price-Qualify Your Partner
10 Create a Delivery Project Plan
Chapter 7 The Commitment: Finalize Value, Negotiate and Close
1 Keep Broadening the Scope of the Problem You Propose to Tackle to the Last Minute
2 Ensure that Everybody Is at the Decision Table Who Needs to Be There for the Go-Ahead
3 Understand the Spheres of Influence Among All Players on Both Sides and Make Sure All Parties Are Supportive of the Transaction You Want to Close
4 Articulate Each Hypothesis as a Chain of Causes and Effects that Everyone Endorses
5 Show You Have Put in Place the Data Platform that Not Only Shows Early Value, but Will Keep Generating Ongoing New Value
6 With Data in Hand, Demonstrate that the Project Will Have a Good Return
7 Agree on a Negotiation Process and Close
8 Celebrate and Start Recruiting the Right People for the Delivery Phase
9 Put in Place the Value-Tracking Mechanism for the Delivery Phase of Work
10 Start Working on the Next Opportunity the First Morning After Closing
Chapter 8 The Long-Term Relationship: Deliver and Document Value
1 Create a Deep, Granular Definition of the Opportunity Areas and Identify the Stream of Benefits Resulting from Each of Them
2 Train the Teams that Own the Delivery of the Promised Benefits and Help them Become Committed to Delivering the Identified Benefits
3 Engage Global Delivery Teams Through a Common Value-Measurement Mechanism
4 Create an Analytical Performance Model for Each Benefits Area
5 Build and Install an Interactive or a Real-Time Value Measurement Platform
6 Compute Value Created in Each Area, Aggregate Total Value, and Hypothesize New Ways to Create Value
7 Use the Quarterly or Yearly Performance Review to Communicate Value Created
8 Role-Model the Value Creation Philosophy in the Personal Relationship Between SAM and Senior Buyer
9 Increase Scope and Risk of Value to Go After: Potentially Create a Formal Value-Sharing Mechanism
10 Build a Value Expansion Plan
Chapter 9 The Family: Expand Value
1 Identify New Problems Whose Resolution Will Change the Business Model of Both Firms Through Significant Investment
2 Involve New Players Outside the Two Core Firms in Tackling the Problem You Have Identified
3 Agree on an IP Sharing Structure and Governance Process that Engages the Various Sides and Protects Their Interests
4 Formulate Specific Hypotheses on Where the Business Value Will Lie in the New Mode of Interaction
5 Devise the Platform that Will Gather the Data and Test Your Ideas
6 Gather the Data and See What You Have
7 Structure the New Products and Services, Build the Supporting Infrastructure, and Devise the New Interactions that They Allow
8 Build the Individual and Institutional Trust by Winning Together
9 Let the New Value Model Emerge for Both Parties
10 Initiate More and More Projects Based on Your Track Record Together
Chapter 10 The Five Levels of Competitive Advantage Yielded by Co-Creation for Sales and Procurement
1 Level One: Redefine the Relationship Between Sales and Procurement
2 Level Two: Improve the Customer’s and Supplier’s Operations
3 Level Three: Introduce and Develop New Products Together
4 Level Four: Redesign the Value Chain by Involving Customers’ Customers and Suppliers’ Suppliers
5 Level Five: Organize and Transform an Entire Ecosystem

 

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