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businesses proudly maintain robust supplier diversity programs. They have now moved from largely being a reporting exercise, to being a businessstrategy. Building Business Cases and Momentum. As a supplychain professional who had performance tied to savings many times in my career, this resonated with me.
Impact of Globalization and SupplyChain Complexity : The complexity of global supplychains highlighted procurement’s role in managing risks, ensuring continuity, and driving efficiencies. CFOs began to see procurement as critical to business continuity and organizational agility.
5] Finance Leaders Are Collaborating More Closely with Procurement: Nearly 48% of CFOs are leveraging procurement data to support broader financial strategies, from fraud detection to cost optimization. [1] 7] This proactive approach supports continuity and reduces the impact of supplychain disruptions.
We spend about a billion pounds each year through our supplychain of approximately 500 suppliers. I also have accountability for the supplychain third-party management risk and environmental, social and governance (ESG) strategy. I have a team of 30 people with end-to-end category management responsibility.
By measuring key aspects of the procurement process, these metrics provide insights that can drive significant improvements in cost-efficiency, operational performance, and supplychainresilience. Importance and Impact on the Organization – Delivery metrics are vital for maintaining a smooth and efficient supplychain.
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