Procurement and Supply Chain 2020 and Beyond

Discerning organizations understand that maintaining the “status quo” in their procurement and supply chain management practices is simply not an option if they wish to succeed in the years and decades to come. With an ever-changing landscape of supplier capabilities, supplier risks, shifting manufacturing capacities, fluctuating demand, innovation advances, market consolidations, regulatory challenges, commodity volatility, and other internal and external weaknesses and threats, there has never been more incentive for competitive companies to advance their procurement and supply chain management talent and capabilities.

To meet these forces head-on, today’s most successful organizations are aggressively seeking procurement and supply chain talent with advanced degrees, financial acumen, cross-functional, cross-industry and cross-cultural experience; as well as the relational, project management, quantitative and leadership skills required to generate qualitative results. Simply put, top companies seek overachievers with the drive, vision, and self-discipline to make an immediate and positive impact on the company’s bottom line as well as its culture. Another break from the past: best-in-class procurement and supply chain organizations are increasingly led by an executive who reports directly to the c-suite and has board-level visibility.

As a strategic business function comprised of interdependent yet interrelated disciplines, procurement and supply chain management has been experiencing a renaissance in talent over the last decade and it’s paying off. Benchmarking research shows that best-in-class procurement and supply chain departments book substantially more savings in their budgets, have much lower operating cost, achieve a much greater percentage of spend under management, and enjoy significantly higher contract compliance and customer satisfaction than average companies. Simply put, they deliver much more value than the next tier down.

It’s no longer sufficient to merely focus on things like unit price concessions, volume discounts, up-time and inventory accuracy. Procurement and supply chain excellence, and that of its leaders and staff, will increasingly be measured on quantifiables like how well it delivers long-term sustainable value creation through best-practice adoption,  improved stakeholder engagement and satisfaction, enterprise-wide spend visibility, trust (e.g. savings the CFO believes), operational efficiency, internal demand management, risk deterrence, and product innovation to name a few.

VerticalReach Consulting Group helps discerning organizations to acquire the procurement, supply chain management, and digital solutions talent they need to deliver value and achieve and sustain excellence now and for decades to come.


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