The greatest threat to procurement and businesses, in general, is a lack of agility. Why do we place so much emphasis on agility? With only 4% of supply chains being “future-ready,” it seems to indicate that procurement and supply chains are not agile in their response to changing market conditions. So how can we improve our state of readiness? Let us know what you think in the comments.
As with any evolution, a species must adapt to survive. For businesses (of any kind) in the next five years, adaptation will require the adoption of bold, proactive, and cross-team risk management tactics underpinned by technology. Technology that will magnify—without diluting—critical and timely information.
When it comes to striving for more sustainable norms and values within our business operations and across supply chains, organizations need to ensure that all elements of their value chain are united in their intention to match global initiatives and expectations in the fight against environmental damage.
Dr. Madhav Durbha Over the years, cost and efficiency ruled the supply chain agenda. In light of the global pandemic, resiliency and business continuity came to the forefront for C-suites across businesses and industries. The Chief Supply Chain Officer (CSCO) has gained prominence as organizations tackle disruption and prepare for a post-COVID world. At the […]
With the pandemic waning and budgets finally beginning to get funded, procurement managers are challenged with unprecedented purchasing demands. How do procurement managers meet the supply chain and pricing challenges?
Sustainability in your supply chain is becoming increasingly important. However, it’s difficult for companies is gathering data across so many different areas of concern. Craft is your ally in this process.
Why do some supply chain teams—despite having all the right commercial skills, tools, systems, and processes—still fail to achieve excellence and success within the organization? At the same time, some teams seem to possess a “secret ingredient” that helps them to achieve truly outstanding results. The same applies on an individual performer level. I once […]
Everyone talks about the importance of relationships to the point that most just respond with an agreeable nod and little else. In a recent poll (see below), the majority of procurement professionals reported that they do not consider relationship management to be a critical part of their overall responsibilities. But why?
Talk to almost any procurement professional about the importance of our function and you are likely to hear the same thing. We know we do a great job but feel that no one else recognizes our contributions.
As everyone around the globe sits in their homes in isolation, the COVID-19 pandemic is bringing procurement and supply chain management out front and center, shining a spotlight on these leaders and teams like never before.