Network Member Question
How can I turn my company's operations into a competitive advantage? and What are the best ways to run my supply chains?
Ramesh Malani
L'Entrepreneur En Residence at Foundation
Washington D.C.
My Response
Given the growing recognition on the part of senior executives that supply chains are a key element of an organization's competitive advantage, like the old song Love and Marriage, you definitely cannot have one without the other.
And like any relationship, there are levels of complexities, which involve multiple stakeholders both within and external to the enterprise itself.
Unfortunately, one of the most critical relationships is also the one in which there is the greatest level of disconnect. I am of course referring to Finance and Purchasing, and more specifically, how to bridge the communications gap between the two. In fact this was the title of an article that I wrote earlier this year based on a study that found that 73% of all savings claimed by the purchasing department are discounted as being invalid by the CFO. As a result of the significant reduction, the perceived value of the supply chain to the enterprises profitability and competitive advantage was also diminished substantially.
Since finance departments continue to be the corporate world's official "scorekeepers," it makes sense that this area be the starting point in terms of answering your question. To this end, I am pleased to provide you with a link (contact author for details) to a recent article titled Is There a Difference Between Purchasing and Procurement. Besides the article, pay particular attention to the corresponding resource links at the conclusion of the piece.
Once you have considered the practical implications associated with the very real-world financial aspects of your question, I would then suggest that you consider the strategic elements through another article titled A Dichotomy of Perspectives: A Discussion on Forrest Breyfogle’s New Book on Integrated Enterprise Excellence (available through this site or the author).
Collectively, this should provide you with a unique perspective on a subject that is becoming increasingly important both domestically as well as internationally.
How can I turn my company's operations into a competitive advantage? - To learn more about this author, visit Jon Hansen's Website.
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