Last week, I promised to share with you the synthesis of my take-aways from this discussion. What strikes me is that supply chain management of which procurement is a vital component is practiced with enthusiasm and skill by professionals all over the world. And, it is not just the multinational corporations that strive to optimise customer satisfaction in a net value manner. Every company, irrespective of size, global footprint and industry, pays particular attention to its supply chain. Successful companies recognize the key competitive importance of supply chain management.
The organisational structure of a company is a product of many additional variables including history, its staff skill set and its ambitions. The language, job functions and job titles that each uses to describe its business may make it seem pretty unique but when taken together and in context, its goal and focus will share so much DNA with its peers that there is a collective common thread running through every company.
So what you may ask? Well for your internal and external supply chain stakeholders alike, it is important to appreciate that your 6 of one or a half a dozen of the other will not necessarily always have the same meaning. A shared understanding and vision across teams, departments, sites and companies comprising your supply chain will add strength and help deliver sustainable competitive advantage. A review of the contributions to our LinkedIn discussion will highlight the diversity of interpretations of common terms within an educated professional procurement community.
In the next related blog, I will offer my perspective on supply chain management and procurement in the light of the wisdom shared by so many “cyber friends” to illuminate personal experiences of participating in challenging projects with industry leaders of all sizes.