Forde, April 29, 2022 (GLOBE NEWSWIRE) — EarlyBirds, an Australian open innovation ecosystem that helps mature organizations tap into the technological advances made by startups and scaleups, is urging corporations to realize the untapped potential that digitizing and strategically optimizing sourcing holds to drive a business’s growth. Readers can find out more about what EarlyBirds can offer companies by heading over to its website at earlybirds.io.
There are many examples in the annals of business history of faulty procurement and unforeseen supply chain problems having disastrous consequences on corporate behemoths. In 2017, faulty batteries from just two manufacturers that served Samsung led to the Note 7 fiasco that caused worldwide embarrassment for the company and almost killed its high-end brand of Note smartphones. To go further back, in 1999, due to the failure to meet its promise of making deliveries in time for the holidays, in the face of overwhelming demand, Toys R Us had to send out troubling “We’re Sorry” emails to thousands of its customers across the nation.
Kris Poria, one of the founders of EarlyBirds explains the need for getting sourcing and procurement right by saying, “A company’s bottom line is heavily influenced by the skills of its procurement team to eke out the best deals possible while still maintaining high availability and assured supply of the required goods. You not only have to keep costs down but you also have to ensure that you have fail-safes in the form of a long list of suppliers that can act as backups if the primary sources fail to deliver on their promises. If you are an Early Adopter organization, we can help you find the solutions that can dramatically change the way you source your raw materials and components to give you an edge in an increasingly competitive market, which is true these days regardless of what industry you are in. Our innovators have even found ways to incorporate cutting-edge technologies such as the Internet of Things to gather large amounts of data about product performance, supply chain logistics, and manufacturing. Analysts can then use machine learning to gather insights on ways to optimize each of the aforementioned pillars to boost a company’s profits and make it more competitive amongst its peers. Head over to the EarlyBirds website today to find out more about how our innovators can use their expertise in sourcing and procurement to help your business thrive.”
Jeff Penrose, the other founder of EarlyBirds expounds on the need for supply chain expertise while running a business by saying, “In a world that is more interconnected than ever, your business can’t afford any slip-ups when it comes to keeping your procurement systems running smoothly at full capacity at all times. Large companies have also realized the importance of placing executives who are experts at dealing with supply chain contingencies in a position of power. This became very clear after the 2020 coronavirus pandemic and gaffes like the 2021 Suez Canal obstruction. Even Apple, the largest technology company to ever exist, trusted its reins in the hands of a supply chain expert when Tim Cook took over as CEO. As a technology company, service provider, or manufacturing juggernaut, any time, unexpected incidents can dangerously impede your ability to fulfill your promises to your customers. If you are smart and proactive, it is recommended that you jump on and take advantage of the innovations that are currently being worked on by fledgling companies all around the world to bolster your sourcing systems using digital platforms, analytics, and agile management philosophies to be prepared for the worst that your industry can throw at you. On the other hand, if you are an innovator working on a high-tech solution to mitigate supply chain risks and lower costs, sign on to EarlyBirds and we will connect you with business leaders who can invest in your capabilities and give you the funds that you need to implement your ideas.”
The EarlyBirds open innovation ecosystem platform along with its Challenger and Explorer programs can help businesses upgrade their strategic sourcing capabilities. EarlyBirds has over 4 million startups, scaleups, and mature innovators on its platform that may have potential innovations ready to go to improve sourcing options for entire industries and technological domains.
For more information about EarlyBirds, contact the company here:
Mr Kris Poria and Mr Jeff Penrose
+61 401 287 060
‘FORDE’ SUITE 10, LEVEL 1, 26 FRANCIS FORDE BOULEVARD, FORDE, ACT 2914
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