Taking advantage of the opportunities offered by today's fast-changing technological landscaperequires procurement functions to blend these advances with activities for value enablement, capturing and sustainment, explains Khushalani, Woodcock and Mercker, partners at McKinsey & Company. “They also need to build deeper and more interconnected capabilities.” READ MORE at CIPS
The Hackett Group found there is still significant need for procurement to address its critical development priorities for 2019. This includes improving analytical capabilities, aligning skills and talent with business needs, leveraging supplier relationships, enhancing agility and achieving true customer-centricity. READ MORE at Supply Chain Management Review
A.T. Kearney’s authors explain that as digital trends disrupt the supply chain, business leaders are forced to rethink their traditional operating models. “With the advent of the digital age, expectations for procurement are no longer confined to the contribution to the bottom line.” READ MORE at A.T. Kearney Ideas and Insights
“The Future of Digital Procurement,” a new report released by Accenture, maintains that many supply chain managers are seeking to modernize this function, but may not have the tools to get started. “But it’s time to move beyond simply replicating the same tedious procurement processes with new software,” says Managing Director Kristin Ruehle. READ MORE at Supply [...]
The mindset of working in silos is still prevalent in some companies, says Ravisekharan Jayakumar, despite organizations adopting a global approach to business and the increase in cross-functional interaction. “It is imperative to formulate robust category sourcing strategies that align with the company’s goal tree....” 2-MINUTE READ
