The maker of sophisticated medical equipment had reached a "plateau" in its efforts to boost customer service and optimize costly inventory within its global operation. Then it found a way to climb higher.

The enterprise wants procurement to enable global growth scenarios in 2012 while also continuing to protect supply and lower input costs, according to research conducted for The Hackett Group's annual Key Issues Study.

Have you ever bought something where price wasn't the deciding factor? A cup of coffee because it tastes better, perhaps? Or maybe a pricier mechanic's services because you trust him? Purchasing decisions in our lives aren't black and white, and they shouldn't be in corporate purchasing departments either.

A conversation with Gregory L. Schlegel, adjunct professor of supply-chain risk management at Lehigh University.