Accelerating Value in Mergers & Acquisitions: Dow’s Success Story

This is an excerpt of the original article. It was written for the July-August 2011 edition of Supply Chain Management Review. The full article is available to current subscribers.

July-August 2011

Winning and winners have a powerful fascination for us. Everyone seems to go crazy when their favorite team wins a championship (think Boston Bruins in the recent Stanley Cup). Individuals bring out the adulation in us, too, whether they are in sports, politics, the community, or religious leaders. And don't forget business. Jack Welch, Bill Gates, and yes, Donald Trump are among the business "winners" who have captivated us. By developing winning ways, supply chain people can put themselves in great position for a long and fulfilling career. We hope that the articles in our July/August issue will accelerate your progress along that…

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Timing is everything, it is often said. Thanks to a recent transformation within Dow Purchasing, we had developed comprehensive work processes, a robust governance protocol and a disciplined organization that enabled us to effectively deliver results in a timely manner during one of the largest and most complex acquisitions in the history of The Dow Chemical Company—the acquisition of Rohm and Haas. The need for value delivery was immediate and urgent during this pivotal time for the company, and Dow Purchasing was on deck, with a commitment to deliver 30 percent of Dow’s total synergy target. Synergies are the improvement in cost position of a combined organization vs. the two stand-alone organizations.

We were able to meet that commitment and more, and we’ll describe what made it possible. First, we must start with a key enabler of our value delivery—our three-year transformation to a highly effective procurement organization. This transformation not only enhanced the value we were able to deliver to Dow businesses, but facilitated our ability to successfully navigate the sea of change on the corporate horizon.

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