I do a lot of reading about next-generation strategies, trends and tactics being employed by leading procurement organizations. Often, I find myself confronted by the notion of “best-in-class.”
As procurement professionals, we are always striving to achieve the best total cost of ownership with the products and services we purchase. We’ve seen the negative impact that bottom-dollar pricing can have with respect to quality and delivery. We’ve seen how over-engineered products with high price tags can erode our margins. Our constant aim is to look at each purchase holistically and measure its total value to the company we represent. So why don’t we look at our procurement teams the same way?
Throughout the course of my career, I’ve had the pleasure of working through more than one organizational downturn – whether due to the economy or the company’s financial status. In times like this, the organization turns to supply chain to lead and impact the bottom line.