To improve supplier innovations, a firm plans to conduct supply market research, identify emerging technologies,...

To improve supplier innovations, the firm aims to conduct supply market research, identify emerging technologies, and analyze supplier capabilities.

Forming a center of excellence can centralize expertise, drive innovation, and coordinate efforts to stay updated on market trends and emerging technologies.

Reorganizing the research and development department might help but does not specifically focus on supplier innovations.

Conducting business review meetings can provide insights but may not be sufficient for a comprehensive innovation strategy.

Redesigning the firm’s supplier scorecards can improve performance tracking but is not directly related to driving innovation.

A center of excellence is the most effective way to centralize efforts, leverage expertise, and systematically drive supplier innovations.

References:

APQC (American Productivity & Quality Center) guidelines on establishing centers of excellence.

Research on the role of centers of excellence in driving innovation and supply chain management.