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This paper aims to demonstrate that collaboration is the best way to create sustainable value and to set new indicators to measure collaborative performance.

The methodology is based on the study of several cases from industrial international firms that have successfully build strong partnerships with their suppliers.

If collaboration is fashionable nowadays, it is not a new behavior. Entrepreneurs have chosen to collaborate with suppliers rather than exploit them for decades. Cooperating in the long term with business partners generates outstanding performance. However, most companies continue to have essentially transactional relationship based on the optimization of financial indicators, rather than fostering the quality of their trade and mutual loyalty. This paper answers the questions why and how to promote and manage collaborative performance.

This paper connects the concepts of collaboration, innovation and sustainable value creation. It questions traditional KPIs and the fear of risk and failure.

The length and sheer scale of the current economic crisis has surprised most managers, who were unprepared to deal with such a situation. Standing at the heart of their businesses, procurement managers need to limit the negative impact of the crisis. Restructuring and cost killing are usually the first responses. However, some buyers are pioneering a new kind of collaborative management that, instead of increasing the pressure on suppliers and reducing risk‐taking to a minimum, advocates taking new initiatives. The purpose of this paper is to present a new, “collaborative buyer” approach to the management of the procurement function.

This qualitative research uses a constructivist methodology based on interviews of 12 buying experts. It develops scenarios and identifies the features of collaborative procurement. In order to map the future of the procurement function, this research looks at the expectations and forecasts of the players involved. The aim is a comprehensive, long, rational, ownership approach that is action oriented.

The paper offers an overview of new, foresight‐based procurement practices, based on the subtle but precise perception of the faint signs of coming change by people immersed in the procurement sector. The procurement professionals agreed to co‐construct a new buyer profile resulting from changes to the old buyer profile and the convergence of other occupations with new skills and expertise.

The aim is to carefully co‐construct a picture of the future of the procurement function. The paper presents new forms of internal and external collaboration, the roles and specific skills of this type of “buyer of the future,” and how the globalised economy is becoming an increasingly community based, collaborative virtual environment.