Today, it’s innovations such as blockchain and artificial intelligence that are forcing organizations to adapt quickly, preferably with little disruption and cost.
Speaking during a CIPS webinar, Bill Michels, vice president of operations for CIPS Americas, gave some of his top tips on how procurement can take the lead through disruption and stay ahead in a rapidly changing world.
1. Think the unthinkable
Bringing innovation, flexibility and speed to the supply chain is all about strategic procurement.
“You want to challenge things and look out of the box – what could you change, what would you change if you could change it?" Michels asked. “Would you change the process or would you change the sign?”
2. Encourage collaboration
In a digitalized, globalized economy, you can’t effectively manage a global supply chain without internal and external collaboration.
Michels said: “If you don’t have collaboration then you just have a standalone business and don’t have a lot of opportunity to share. Sharing cross-functionally and sharing with other suppliers is great.”
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