Business Bridge

Background

The Itasca Job Growth Task Force initiated the "Business Bridge" concept to more effectively facilitate purchasing connections between the region's small and growing companies to larger, more established organizations.  Small business leaders told the Task Force that a significant challenge they face is gaining access to large companies. Securing a large company as a client can have a tremendous impact on the trajectory of a company by establishing a stable revenue stream and credibility for investors and other clients.  One of Minnesota's greatest assets is its substantial number of leading companies. However, the Task Force also heard that despite their interest in finding innovative and differentiated solutions from companies based in this market, sourcing departments at large companies face significant challenges in sorting through potential suppliers to find the most innovative, responsive suppliers capable of meeting the needs of leading companies.  In 2011 and 2012, the Itasca Project piloted Supplier Showcases featuring emerging local companies as a first step to bring both sides together in a way that helps make the right connections with the right individuals. Currently, the effort is focused on developing practical approaches to incorporate Business Bridge principles into procurement practices within large companies in the metro region.

Project Leadership

The concept for a "Business Bridge" between our region's large and small companies was developed by the Itasca Project Job Growth Task Force, led by:

* Marilyn Carlson Nelson, Chairman, Carlson Companies
* Ken Powell, Chairman and CEO, General Mills
* Chris O’Connell, Executive Vice President and Group President, Medtronic
* Michael Gorman, Managing Director, Split Rock Partners

The Supply Chain Executive Council is collectively supporting the growth of local businesses, and therefore economic prosperity, through guidance and oversight of the Business Bridge initiative. The Supply Chain Executive Council includes senior supply chain executives from 3M, Andersen Corporation, Cargill, Carlson Companies, General Mills, HealthPartners, Medtronic, Pentair, Target, Toro, UnitedHealth Group, US Bancorp and Xcel Energy . For more information contact: Beth Kessler beth_kessler@mckinsey.com

Overview of current efforts

The Supply Chain Executive Council is investigating the use of a supplier portal and supporting procurement practices that can help identify suppliers in Minnesota and the St. Croix Valley to meet large company purchasing needs. By registering in the portal, Minnesota and St. Croix Valley businesses will be part of a searchable database that procurement professionals from large Minnesota-based organizations will be using to identify potential vendors. Pilot portal users include committed large company procurement organizations. By advancing this concept of more effectively linking suppliers with supply chains of established organizations, Itasca hopes to distinguish our region as a leading model of this type of collaboration.