Supply Management becomes more strategic

June 13th, 2007 at 07:29am David Bush - Iasta

CAPS Research has published a new report, which is available on the ISM website, titled Succeeding in A Dynamic World. The mission of the study is described as,

forces and changes will cause CEOs to ask supply management leaders to take on a broader, more strategic mission, to be evaluated on a more comprehensive set of goals and to deliver a higher level of performance. Supply management will be expected to deliver more innovation from suppliers, contribute more broadly to revenue generation, anticipate and monitor supply risk to ensure business continuity, and expand the breadth and impact of cost management efforts.

Paul Laudicina, Managing Officer and Chairman of the Board of A.T. Kearney pointed out that in the years ahead the success of supply management executives will be based on how well planning and execution is undertaken in seven critical areas:

1. Developing forward-looking category strategies
2. Engaging, developing and managing key suppliers
3. Designing and operating multiple supply networks
4. Leveraging technology enablers
5. Collaborating internally and externally
6. Attracting and retaining supply management talent
7. Managing and enabling the future supply organization globally

Like all CAPS related research, it is a very comprehensive report which gives very broad and well documented strategies for success. There is never a silver bullet which can be used to gain long term success, but I do find it promising that these studies always describe leveraging technology as critical to executing best in class procurement goals. These types of reports typically are not free or available only in member sections, I encourage all to check it out to help visualize the processes needed for internal development of supply management initiatives.

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Entry Filed under: Analysts/Research, General, Supply Management Best Practices, Technology / SaaS, e-Sourcing Marketplace