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Vishal Patel and Peter Hunt delivered their session ‘Creating Value with Strategic Sourcing’ to discuss how Procurement professionals are recognizing that the fast-paced digital landscape of today demands new approaches to categorymanagement and strategic sourcing. The answer is simple – automation.
Procurementteams are now expected to manage a lot of moving parts — from supplier relations to spend, risk, compliance, contractual obligations, contingency plans and more — and a lack of visibility inhibits their ability to do any of that effectively. Work to achieve 100% supply chain visibility.
Food service leader digitizes procurement to drive efficiency, transparency and effective supplier management as it accelerates global expansion. Jollibee Foods Corporation (JFC) is a chain of fast food restaurants with a worldwide store network of more than 5,000 stores.
This process is common in Automotive and other manufacturing industries to ensure that selected suppliers are capable of meeting product quality requirements, and allows program managers and categorymanagers to identify, document, and mitigate potential issues and risk with proper audit standards.
Sajid Kunnummal, Vice President and CPO at Navistar, was interviewed in late 2020 by Philip Ideson from Art of Procurement. When the crisis hit, Procurement as a function was suddenly in the hot seat, and it became the driving force for business continuity. Why is visibility so important? Set expectations with suppliers.
When the crisis hit, Procurement as a function was suddenly in the hot seat, and it became the driving force for business continuity. In fact, the pandemic spurred enormous growth and expansion for Procurement, while helping uncover hidden weaknesses in procurement processes and procedures. Why is visibility so important?
Those that selected more rigid technology that is good at driving standard process efficiencies but less so in enabling analysis or connecting stakeholders, or doesn’t address all spend, will struggle to scale efforts. Digitization can save endless hours by automatically identifying such contracts.
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