Filed in November_2010
Monday, November 01, 2010
Supply market intelligence (SMI) is a proven approach to reducing risk and gaining a competitive advantage. It begins with the collection and analysis of market
data—but doesn’t stop there. The leaders excel at engaging key stakeholders in the SMI process and then disseminating the information in a way that leads to better
business decisions. It’s a new way of thinking that can pay big benefits.
Can strategic procurement best practices from the private sector be effectively applied to state government? The State of Georgia’s success with its Procurement Transformation initiative answers that question with a resounding yes. Georgia completely revamped the people, process, and technology surrounding the procurement process—confirming the old wisdom that it’s not only what you spend, but how you spend it that makes the difference.
Why don’t chief executives come from the top supply chain ranks as readily as they do from finance, marketing, and sales? Senior supply chain management roles constitute some of the best preparation possible for the CEO’s position. But if they are to be seen as such by those who plan CEO successions, supply chain leaders themselves need new ways to think about the route to the top office.
The pressure to cut costs—and do it fast—shows no signs of letting up anytime soon. Not surprisingly, that pressure is often felt most intensely by the organization’s supply management professionals. But how best to respond to the challenge of sourcing under time pressure and achieving the desired cost-reduction results? The guidelines offered here can help answer that critical question.
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Yes, we’ve all experienced some formidable challenges during the economic downturn of the past two years. But things could have been a lot worse were it not for the supply chain’s positive impact on costs, revenues, and operations. That’s just one conclusion of our annual survey, which suggests brighter times ahead and encourages supply chain professionals to get ready for the upturn.