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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.
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. The post Are you a SupplyChain Visionary Vick or Laggard Larry?
The total costs, in terms of human lives, disrupted supplychains, ruined businesses and GDP impact, are still just projections in the array of charts presented daily by statisticians and data modelers. There are, however, already some clear lessons to be learned by Procurement and SupplyChain leaders.
But it also has value far away from the battlespace, such as 5G efficiencies in supplychain and warehouse logistics and support for open standards while maintaining secure networks. In his current capacity, he serves as a trusted advisor to a multitude of clients in throughout the world. and its allies and partners.
Outside of defense, 5G can enhance supplychain and warehouse logistics, support open standards and strengthen communications while maintaining secure networks. In his current capacity, he serves as a trusted advisor to a multitude of clients in throughout the world.
For procurement and supplychain professionals, the biggest takeaway from 2020 is that no matter how hard you try, you cannot predict the future. COVID-19 disrupted supplychains on an unprecedented scale, and businesses became much more reliant on procurement teams to help mitigate the impact. .
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.
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.
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