High levels of confidence in the areas of technological adoption indicate a positive step towards acceptance of supply chain technology implementation at scale.
Supplier bases are a great source of potential innovation. But, unlocking collaborative supplier innovation requires clearly defined strategies and operations by a sourcing, procurement and/or purchasing team to ensure that suppliers’ competencies are being leveraged to their fullest potential.
Procurement is amongst some of the most rapidly changing business areas, and maybe for the better. Only time will tell if the coming digital transformation of various business areas, just like procurement, will make for positive outcomes. But, in the meantime, there is still a large population of procurement professionals, strapping up their boots every morning, and doing their darndest.
Procurement and sourcing teams are heavily reliant upon the effectiveness of the suppliers they choose to collaborate with. Relationship management between buyer and supplier is crucial to the success rate of a partnership, and both parties must learn to give and take to create fair/shared value.
Without an acceptance to disrupt and transform from top to bottom, is there even an opportunity to change at all?
CPOs (Chief Procurement Officers) is the function in charge of leading this transformation. Many leaders within the procurement world are ready to realize the change that lies ahead.