Sodimac and the creation of the Innovation Center with Suppliers
Innovation project portfolio
Innovation management system
Detecting the challenge
In 2012, the Chilean home improvement company set the objective of innovating, in line with the strategic goal of differentiating themselves in order to improve the quality of life of its clients. However, they still had to define what exactly innovation was and how to achieve it. The seed of innovation was present in the executives in a very intuitive manner. It was necessary to turn it into a formal and systematic process so foreseeable and high impact results could be delivered.
Designing a collaborative model
Sodimac, with the goal of working to differentiate themselves in the market in order to strengthen the preference and loyalty of its clients, decided to lean on their suppliers. By doing this they would create value by means of joint innovation management in which they would articulate necessary capacities. This was carried out with the strategic support of INNSPIRAL as experts in innovation, and with whom the Center of Innovation for Suppliers (CIP) was formed at the end of 2012. In 2013 Sodimac launched its first pilot of the Center, with 6 suppliers.
Innovation generates results
In January 2014 CIP started producing results and by November 2015 these were significant, being a result of innovative products developed by close to 50 partner suppliers. Today, innovation is an important part of the business strategy of Sodimac, which includes a formal process that is validated and established and includes innovation and results metrics both for Sodimac as well as its suppliers of the CIP. One of the key results was the strengthened trust between the suppliers and Sodimac for the creation of exclusive products for its clients in Chile and abroad. These have been made available to Sodimac’s clients with resounding success, which in 2015 alone meant sales volumes of $3,600 billion Chilean Pesos, according to its CEO.