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In last week’s blog , I began discussing telltale signs that you have entered the new age of strategicsourcing. Leading manufacturers have proven that best-in-class strategicsourcing can create measurable and sustainable shareholder value by contributing to top line growth and bottom line profitability.
However, few manufacturers ever sit back and ask, “How can our procurement or strategicsourcing initiatives contribute to the overall customer experience?” I would argue that, if you’re in manufacturing, strategicsourcing is the first place to start shaping the customer journey.
At the introduction stage, it is imperative that your suppliers have the capability and capacity to meet demand at launch and the subsequent ramp to volume…and profitability.
In his current capacity, he serves as a trusted advisor to a multitude of clients in throughout the world. His specialty is in helping organizations utilize and implement modular-based open system solutions to drive tangible business and mission outcomes.
In his current capacity, he serves as a trusted advisor to a multitude of clients in throughout the world. It provides a lot more capacity to the rural conductivity,” Camerlin said. His specialty is in helping organizations utilize and implement modular-based open system solutions to drive tangible business and mission outcomes.
He later went on to work for other companies such as MCI WorldCom and Marconi Federal in an engineering capacity and has also worked for Ericsson / Ericsson Federal, Verizon Wireless, Oceus Networks and Nokia as an Account Director. Mark brings a wealth of knowledge of the wireless industry and the cellular technologies deployed today.
Sprint’s strategicsourcing transformation, presents a great example, in multiple ways. First, their approach digitized not just the sourcing process itself, but also requirements gathering from the business, providing transparency into the pipeline and prioritization across the company.
Recently I attended a conference for StrategicSourcing in the medical device manufacturing sector. getting involved early on in the New Product Introduction ( NPI) cycle to ensure suppliers risk is being properly evaluated in production capacity and quality.
By digitising procurement, businesses can free capacity for more strategic initiatives, improve decision-making with a single source of truth and actionable insights, and scale and improve the effectiveness of collaboration.
Then look at Sprint , where the handset division came up with the idea to effectively create their own marketplace for used handsets, configuring their sourcing product to run mass volumes of global forward auctions on used handsets to optimize the price received, generating over $1B in revenue in 2018. Plan to avoid those.
It enables the agility critical in a crisis, freeing capacity by automating tactical activities, improving access to insights to make faster, better decisions and scaling collaboration across more suppliers and internal stakeholders. In today’s crisis, Procurement is having to get more done, and do it faster than ever before.
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