The traditional supply chain and the supply chain management function are being morphed into an integrated value chain. This optimization makes up for a more efficient flow of supplies and products; and more importantly, an emphasis in customer and business value.

A rationale often used in support of a more centralized corporate purchasing function is the need for a company to project "One Face to the Supplier".

Over the past couple of decades, supply chain management has become a crucial concern for multinational firms. In our super-connected world, firms must maintain a handle on the way products, supplies and people are zipping around the planet. Companies that streamline the links between their suppliers, manufacturers, distributors and subsidiaries can realize a distinct advantage over rivals that have not yet caught on to the importance of high-functioning logistics and purchasing departments. Indeed, research has identified several aspects of supply chain management that can boost firms' bottom line.

Once you have your lean journey underway, how do you sustain it? How do you build it into the bricks and mortar, and the DNA, of the organization? We no longer want lean to be its own thing; we want it integrated into the organization.

President Obama announced nearly $500m in public-private investment to strengthen American manufacturing by investing in cutting-edge technologies through a new, textiles-focused manufacturing institute competition led by the Department of Defense, and by sharpening the capabilities of small manufacturers through Manufacturing Extension Partnership competitions in 12 states. The White House, as detailed in a new report, is also launching a Supply Chain Innovation Initiative focused on building public-private partnerships to strengthen the small U.S. manufacturers that anchor the nation's supply chains.

China Inc. might appear to be an improbable source of fresh management thinking. Its state-owned enterprises are, for the most part, regulated giants that are experimenting with Western management practices. China has yet to produce a world-class company like GE or Samsung, and outside the country most of its businesspeople are better known for amassing wealth than for innovative management ideas. Yet China offers more management lessons today than do most other countries.

For many companies, 2015 is looking rosy. The overall economy is finally accelerating out of the worst recession since the 1930s, helped in no small part by construction as the Construction Backlog Indicator (published by Associated Builders and Contractors) reached an all-time high in June.

While the majority of respondents (72 percent) feel culture is extremely important to organizational performance, only 32 percent say their company's culture aligns to a great extent with their business strategy, according to a survey by Korn Ferry, a leadership and talent consulting services.