IKEA has transformed its procurement and sourcing process to prioritize value-driven collaboration with vendors. This shift goes beyond traditional cost considerations, focusing on understanding and aligning with the company’s core values and long-term vision. Before engaging with partners, IKEA establishes the foundational principles that their vendor relationships should be built upon and then ensure, that these principles guide the relationship from the outset.  By placing values and objectives at the heart of the vendor relationship, IKEA fosters a collaborative ecosystem where both parties invest in shared success. This collaborative approach empowers vendors to contribute to innovation, enhance customer experience, and accelerate speed to market.

In this session, you will learn:

• How to shift a procurement strategy from transactional, cost-driven decisions to long-term, vision-driven collaboration?
• How to empower vendors as partners by aligning them with a company’s goals and needs, encouraging them to bring in their expertise and resources?
• How to implement outcome-based contracts that foster mutual investment in achieving company objectives?
• How to standardize and scale a collaborative procurement model across teams to ensure alignment and consistent results?