How are business and industry leaders transforming their approach to procurement amid disrupted supply chains, rising costs, and growing uncertainty?
Customers, employees and investors are increasingly putting ESG front and center when making decisions about the companies they engage with. Rising shareholder and consumer activism, as well as new forms of regulation, mean that it is no longer enough to simply state good intentions. The challenge is to prove to stakeholders that policies and initiatives are translating into meaningful action and impact.
Remember when the U.S. was virtually held hostage by OPEC? If they raised the price per barrel, U.S. consumers were stuck with higher prices at the gas pump. And then along came fracking. Boom! The U.S. took the alpha role in energy production. Carbon emissions notwithstanding, this new power freed the U.S. economy from dependance on other oil-producing nations.
Enterprise risk has never been a higher priority for businesses, executives and procurement practitioners than right now in light of the COVID-19 crisis. The coronavirus disruption has only accelerated many enterprise risks — from cyberthreats, employee health and safety, and most certainly, to supply risks affecting suppliers in complex value chains.
The Future With Artificial Intelligence
Artificial intelligence (AI) is shaping our future and becoming integrated into our lives, both at home and work. With it come many fears about what it means to jobs, humans and our future.
First, let’s put our minds at ease around the fear of tech run amok. We are incredibly far away from a Terminator chasing us. Now, let's focus on the idea that we can positively shape AI to our benefit.
This year has proven complex for organizations and their supply chains as they adapt to an ever-changing landscape filled with new risks and volatilities.
Forward-thinking leaders are turning to sustainability as the solution for building long-term resiliency and ROI. The recently released EcoVadis Business Sustainability Risk & Performance Index shows there is additional work to be done in the journey toward more sustainable business.
In a landmark 1983 article in the Harvard Business Review, Peter Kraljic introduced a purchasing portfolio model using a 2 x 2 matrix. The Kraljic model was based on the premise that purchased products and services can vary significantly in terms of importance and risk. Based on this, procurement professionals should use different sourcing and supplier management strategies depending on the importance and risk profile of each purchase.
Can you outline why your team embarked on this project and the problem that needed to be solved?
How were things done originally and what was the inspiration to innovate the process?
In this episode of the Sourcing Industry Landscape, Dawn Tiura interviews Kazu Gomi. Kazu Gomi, CEO of NTT America, ranks as the 4th largest telecommunication company in the world. We learn the breadth and depth of NTT’s capabilities, from system integration, (they acquired Dell Services a few years ago) and are also one of the largest security companies in North America.