Innovation Partnership Procedure

Innovation partnerships are key to successful procurement. By developing a clear and concise definition for how your organization will engage in innovation partnerships, you can ensure that everyone is on the same page and that your organization is deriving the maximum value from these relationships. Here are some elements to consider when crafting your innovation partnership procedure definition:

– Who will be responsible for initiating and managing innovation partnerships?

– What types of organizations make ideal partners for your company?

– What are the objectives of entering into an innovation partnership? What problems are you looking to solve?

– What processes will be put in place to identify potential partners and assess their suitability?

– How will innovation partnerships be structured? What roles and responsibilities will each party have?

– What governance arrangements need to be in place to protect confidential information and intellectual property?

By taking the time to develop a clear and well-defined procedure for innovation partnerships, you can set your organization up for success in this key area of procurement.