From my standpoint, as I watched Kate Vitasek‘s video on Forbes the first thought that came to my mind is that she is preaching to the choir. In other words, each point she presents should resonate with anyone and everyone in the procurement world. End of story, right?
– But then, I remember her famous I-35W bridge rebuild case study, and what happened after that success.
– I remember the 90,000 plus views and the range of comments regarding my LinkedIn post of a couple years ago asking; “Can procurement collaborate outside of a crisis.”
– Let’s not forget how, at the beginning of the pandemic, too many companies sought longer payment terms from their suppliers to preserve cash flow.
There is of course a flip side, e.g., retailers struggling with excess inventory:
– Bill Michels recent post talked about Tyson Foods dealing with “excess inventory and low/high demand.
Procurement Insights
What percentage of all your suppliers do you consider to be “strategic partners?”
Posted on September 8, 2023
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From my standpoint, as I watched Kate Vitasek‘s video on Forbes the first thought that came to my mind is that she is preaching to the choir. In other words, each point she presents should resonate with anyone and everyone in the procurement world. End of story, right?
– But then, I remember her famous I-35W bridge rebuild case study, and what happened after that success.
– I remember the 90,000 plus views and the range of comments regarding my LinkedIn post of a couple years ago asking; “Can procurement collaborate outside of a crisis.”
– Let’s not forget how, at the beginning of the pandemic, too many companies sought longer payment terms from their suppliers to preserve cash flow.
There is of course a flip side, e.g., retailers struggling with excess inventory:
– Bill Michels recent post talked about Tyson Foods dealing with “excess inventory and low/high demand.
– Dawn Tiura‘s article on how Target and Walmart had excess inventory in the aisles.
– Finally, Michael Cadieux‘s article on Peloton Interactive‘s challenges with meeting product demand.
So, how could a more strategic partnership approach have helped stakeholders in the above scenarios?
Click the to WATCH Video and join the conversation on LinkedIn.
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