Supplier Energy: The Next Wave in Procurement

This is an excerpt of the original article. It was written for the July-August 2014 edition of Supply Chain Management Review. The full article is available to current subscribers.

July-August 2014

LEGACY Supply Chain Services has made company culture the centerpiece of how it drives innovation, efficiency, and the creation of value for its customers. Is it a model that others should replicate?

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Saying that today’s business environment is increasingly complex is an understatement. People want and need more of everything—products, services, information—in faster time and through more channels than ever before. Worldwide demand for water, food, and energy is soaring, depleting natural resources are putting pressure on preservation and sustainability. Add in more financial volatility from global capital imbalances and geopolitical volatility and you’re talking about real challenges.

So it is no surprise that procurement organizations are becoming more complex and difficult to manage. C-suite executives expect more from procurement. Procurement must continue to do its “day job” and drive cost reductions while simultaneously becoming more strategic by delivering value beyond cost to the organization. This value is derived from innovation and growth, risk management, capital optimization, as well as speed, agility, sustainability, quality, and service.

Just as marketing leaders have tapped into “customer energy” to help shape the brand promise, procurement is tapping into “supplier energy” to improve and sustain its longer-term competitive advantage. The key is for procurement teams to go beyond a sole focus on sourcing.

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