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That’s the question we set out to answer in our recent panel discussion with Procurement and Supply Chain experts. Demandplanning capabilities. Demandplanning is the ability to create forecasts that predict the future need for your products. In terms of feature vs. function, they appear the same, but are they?
Historically, if you asked sourcing leaders to name the one competency they felt they needed their procurement and sourcing teams to master in order to achieve ongoing sourcing and supplier management success, most would likely have said negotiation skills. It requires the building of trust and the development of shared goals.
It’s true that the mental models and naming conventions we have been using to define procurement processes and categorize solutions are limited in definition, business process coverage, and scope. Perhaps it is time for a more comprehensive description. I’m going with Supplier Value Management.
Historically, if you asked sourcing leaders to name the one competency they felt they needed their procurement and sourcing teams to master in order to achieve ongoing sourcing and supplier management success, most would likely have said negotiation skills. It requires the building of trust and the development of shared goals.
It’s true that the mental models and naming conventions we have been using to define procurement processes and categorize solutions are limited in definition, business process coverage, and scope. Perhaps it is time for a more comprehensive description. I’m going with Supplier Value Management.
Professionals in demandplanning, procurement, logistics, fulfillment, sourcing: step up and take ownership of your area. Fuel innovation with processes and analytics. In many ways, Gartner’s opening day message was simple: the power for change is in the hands of supply chain leaders. Drive transformation from the bottom up.
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