From the March 2018 Issue: Why procurement matters

This is an excerpt of the original article. It was written for the March-April 2018 edition of Supply Chain Management Review. The full article is available to current subscribers.

March-April 2018

"Inflation creeps into U.S. Supply Chain.” So said the headline on a Wall Street Journal article I read this morning before writing this column. The Journal went on to write that U.S. companies are grappling with rising material and ingredient costs on top of pressure from higher wages—a potential double whammy— and noted that companies like Whirlpool and Ford have already issued warnings to the market.

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“Inflation creeps into U.S. Supply Chain.” So said the headline on a Wall Street Journal article I read this morning before writing this column. The Journal went on to write that U.S. companies are grappling with rising material and ingredient costs on top of pressure from higher wages—a potential double whammy— and noted that companies like Whirlpool and Ford have already issued warnings to the market.

Finding solutions to the rising cost of supply is just one reason why procurement matters (as if readers who are planning on attending ISM 2018 in Nashville have any doubts). It’s especially the case in what is turning into a potentially thorny economic environment characterized not just by the increasing costs of supply and labor, but the end of the era of cheap money. This is the time for procurement professionals to shed their suits, bust out their Superman capes and demonstrate their value.

In this, our annual procurement issue, we’re bringing you five features focused on delivering value and avoiding potholes along the way.

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