Why true partnerships deliver exponential value

The partnership model between product companies and their strategic suppliers has evolved from arm’s length transactional relationships in the early days to fairly extensive collaborative efforts that have today become the norm. It is now not unusual for product companies to depend heavily on their strategic suppliers for solutions in design, supply chain and operations. Although great strides have been made in the shared value creation promise of partnerships, the world has yet to see sufficient evidence that more ideal variations of a “shared-risks shared-rewards” approach are pervasive. There could be many reasons for this; in most cases strategic suppliers shy away from the risks while the product companies are reluctant to share the rewards. Both parties, while idealistic and optimistic at the onset, eventually act in ways that limit the relationship. The opportunity to unlock the potential exponential value that a true partnership model promises is never taken.

Perhaps the perfect balance is truly out of reach; however, a more optimised partnership built on a spirit of entrepreneurship, underlined by trust and cooperation, is not only possible but necessary for the next evolutionary step. Our aspiration at WSP is to be at the forefront of this new paradigm. We have had more than a decade of working with truly leading-edge companies where we frequently came close to achieving this new form of collaboration; now we feel the time is ripe to take the next step. We believe our deep-rooted entrepreneurial culture exemplified by agility, fast-decision-making, flat organization, and most importantly the willingness to explore and adopt innovative business models offer product companies around the world meaningful new value creation and breakthrough opportunities. We are happy to pursue traditional business models, but we get truly excited creating new ones with our customers.

In order to fulfil our end of the promise, we need to provide our partners with distinct advantages. Over the last decade, we have built extensive and deep capabilities across the Mechatronics value-chain from design to manufacturing and everything in between. Mechatronics is an area of technology that brings together various disciplines including electronics, mechanical engineering, communication, motion-control, cordless power and high-grade and cosmetically superior plastics. We have also invested heavily in vertically integrated campus-factories so that our customers get the fittest and most efficient supply chain and operations. Our customers will benefit from capabilities only our much larger competitors have, and without sacrificing the advantage of working with a nimbler and more responsive supplier.

But the partnership model we want to bring forth is not just with customers. It is also with our employees, who are without doubt our greatest assets. We want the partnership model to transcend conventional employer-employee relationships. We want our people to partner with the company as we forge into the future. We are also mindful of our citizenship commitments and we recognize that we must also partner with the planet and the community we are part of. Our ESG commitments are steadfast and bold and with a dedicated team to lead the organization; and we are unwavering in our commitment to the highest standard of environmental and social care built on a foundation of exemplary governance.

We want the WSP of the future to redefine the partnership models particularly in the Mechatronics and related industries, by bringing our entrepreneurship and versatility to the fore. Most of all, we aspire to be the most sought-after partner for all product companies in our industry.

Author: Dharma Nadarajah, COO WSP

Mr. Nadarajah has almost 30 years of deep industry experience and insight. Over the span of his career, he has built strong customer relationships with many of the world’s most successful Electronics companies. As a strong advocate of Enterprise Business Systems and Continuous Improvement, Mr. Nadarajah is well-versed in all areas of Operational Performance including building high-performing teams, and focusing its ESG initiatives.