Supply-chain plans tend to collapse when demand spikes, supplier failures and other problems at the execution level radically change the underlying assumptions. But better planning techniques, event management tools and a new generation of web-based collaborative solutions can keep these plans on track.

Every smart buyer uses its leverage to gain lower prices from suppliers, but effective strategic sourcing requires deep understanding of spending data, collaboration with key suppliers and the right technology.

High profile failures with supply-chain applications have made it tougher to gain management approval for new IT projects, but careful planning, diligent investigation and personal accountability can make the business case.

After failing to deliver expected value from technology purchases, IT departments have lost much of their decision-making power. Supply-chain managers are now on the hot seat to make better decisions -- and make them work.

Traditionally, only the biggest companies could afford supply-chain solutions. But that has changed as affordable, easy-to-implement systems put midmarket companies on an equal competitive footing with the largest Global 2000 giant.