Can you outline why your team embarked on this project and the problem that needed to be solved?
While many fundamentals suggest the U.S. economy remains healthy, there are also looming signs of a slow-down. If a recession takes place, procurement and finance professionals are likely to be the first in their organizations to perceive and deal with the impact.
Managing tail spend has been a major topic of discussion among sourcing professionals for at least the past two decades. In most companies, external spending has a Pareto-like distribution – the largest 20% of suppliers (by dollar volume) typically account for about 80% of the total external spend. Tail spend is generally defined as the 20% (or so) of the total external spend that is attributable to the smallest 80% of suppliers.
As a business leader you get 360s, so why doesn’t the business you lead?
Individually, you benefit from 360s exposing blind spots and unintended consequences of your “default” way-of-being. Your company has blind spots and default ways-of-being, too…and they undermine the success of critical relationships with outsourcing providers, product and channel partners, and anchor customers – the vital “360” space around your company.