The procurement function in most organizations deserves more attention than it gets. Most executives associated with procurement lack the competencies and perspectives required to identify gaps and effectively manage the function. This paucity of attention and capabilities is a certain path to extinction in this age of abrupt supply and demand shifts, intense competition, material […]
Tag Archives | procurement
Pharmaceutical Supply Chain Reinvention
Majority of pharmaceutical companies are persisting with decade old processes and routines. They have transactional relationships with suppliers, lack of concerted efforts to progress ahead, and no vision to reap productivity rewards. The reasons for continuing with these traditional practices include tax regimes, regulatory hurdles, and stable revenues from customers dependent on existing industry offerings. […]
Suffering Profit Leaks? Use Cost-to-Serve (CTS) Analysis to Prevent Them
Supply chain management across industries is being revolutionized at a rapid pace by technology. By implementing technology systems, supply chain organizations aspire to eliminate waste, meet customers’ needs at reasonable costs, and ensure profitability. Enterprise Resource Planning systems facilitate in processing unstructured data at an aggregated level. However, at workflow or micro level the data […]
Strategy Classics: Porter’s Value Chain
The Value Chain concept, first described by Dr. Michael Porter in 1985, is a series of actions that a firm—in a specific industry—accomplishes to produce a valuable product or service for the market. The value chain notion visualizes the process view of an organization, perceiving a manufacturing or service organization as a system comprised of […]
Building Resilience into Supply Chains
The supply chains of most companies, large and small, exploit a world of opportunities. But, increasing global exposure comes with an increasing range of risks. These companies’ complex networks of suppliers and customers are as diverse as the goods and resources they manage. Within the same supply chain, giant multinational companies can sit side-by side […]
