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Or the automotive firms, who watched Tesla with the condescending view that electric cars would just be a fad, until they also realised the true potential. It requires appropriate inter-personal and behavioural skills, as well as traditional skills such as commercial understanding and negotiation.
The pandemic wreaked havoc on businesses and their supplychains, but even in these trying times, there’s a silver lining. The job of sourcing professionals is to understand the risk in the supplychain and manage it so they can react quickly when a problem occurs.” Start by Putting the Right Technology in Place.
Even reducing costs often depends more on effective collaboration rather than negotiation in today’s market. At the same time, organizations have never been more exposed to risk from their supplychains, from supply continuity, quality, or ESG violations. Yet, too few businesses do so well.
Protecting profitability in the face of inflation isn’t about squeezing suppliers in negotiations, but working together to find ways to reduce costs in the full value chain. Ensuring supply continuity requires timely and open sharing of information. Second, map your sub-tier.
Cristián Conejero highlighted significant growth and diversification in Latin America, particularly in sectors such as electricity, renewable energy, minerals (primarily copper), metals (including lithium), chemical products, agroindustry, ports, desalination plants, technology, and the automotive industry.
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