Innovation through co-creation – Volvo Group´s Purchasing summit focused on future technologies6/25/18
Technologies such as automated driving, electromobility and connected vehicles have the potential to transform transport to become quieter, cleaner and safer. These technologies are also making new collaborative and agile business models both beneficial and necessary.
To support this development, top executives from some of the Volvo Group’s most influential global suppliers, as well as emerging, innovative partners gathered for a two-day summit in Gothenburg focused on innovation.
“On this journey of electromobility, connectivity and automation that Volvo Group is embarking on, the future is about close collaboration and co-creation with partners and essential to stay competitive,” says Andrea Fuder, Chief Purchasing Officer at Volvo Group.
The importance of outside partnerships to innovation was echoed by Martin Lundstedt, CEO and President of Volvo Group, who communicated the need to rethink traditional business structures and concepts for a new age. “We are moving from a ‘supplier-ship’ business model to one of partnerships. Our customers expect us to find joint solutions that are world-class. This calls for relationships with our partners that build on open dialogue, transparency and agile ways of working.”
He underlined that traditional transactional business relationships need to give way to open, transparent collaboration. “Transparency is a key – we need to have an open dialogue where we listen to each other,” said Martin Lundstedt.
The future is about close collaboration and co-creation with partners and essential to stay competitive.
Lars Stenqvist, Chief Technology Officer of Volvo Group, underlined Volvo Group’s role as an early adopter of many of the transformational technologies that are defining the future of transport. Electrified solutions, for example, have been developed within all of Volvo Group’s major business areas, from buses, to trucks, marine engines and the construction segment. The scale and pace of the development towards electromobility is set to rise even further as battery development is swiftly becoming better and more powerful. Cutting-edge solutions within connectivity and automation are also being pioneered on many fronts across the Volvo Group portfolio from Volvo Trucks’ fully autonomous mining trucks to a self-docking yacht technology from Volvo Penta.
Bringing suppliers into closer partnerships is a way to speed up the ongoing development of new technologies. The Summit is set to be an important forum to frame that work. “The Volvo Group Purchasing Summit will be a critical platform and important foundation for Volvo Group to enable open and inspirational dialogue,” says Andrea Fuder.
The Volvo Group Purchasing Summit is set to be held every second year with a new theme each time. One-hundred and twenty guests attended the premiere Summit.