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The pandemic saw incredible growth in this area and highlighted opportunities for improvement within procurement processes and procedures. As teams worked with suppliers through creative solutions, it became obvious that transparency and supplier riskmanagement are essential components to maintain stability during crises like these.
Sajid Kunnummal, Vice President and CPO at Navistar, was interviewed in late 2020 by Philip Ideson from Art of Procurement. 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?
In fact, the pandemic spurred enormous growth and expansion for Procurement, while helping uncover hidden weaknesses in procurement processes and procedures. Navistar had already been developing a supply chain riskmanagement program and were in the midst of executing digital transformation initiatives when the crisis hit.
Some lessons regarding managing supply chain risk may still help in the near term as companies struggle to reconfigure their supply base to an evolving pandemic. First, categorymanagers should look to investment professionals and take a broad portfolio view of supplier riskmanagement.
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