What are the 3 biggest challenges faced by supply chain/purchasing professionals today? (Survey Result 19)
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What are the 3 biggest challenges faced by supply chain/purchasing professionals today? (Survey Result 19)
Keith, Senior Commodity Specialist, Chicago, U.S.
Here are the quick three challenges that are driving my decision-making as a supply chain professional this week:
1) Devaluation of the US dollar in relation to a world basket of currencies. Specifically the appreciation of the Chinese RMB to USD because we are sourcing so much from China. Having a balanced sourcing portfolio with suppliers in different parts of the world is no different than diversifying your own investment portfolio to combat such situations.
2) Managing and containing costs in an environment of rapidly rising raw material prices and inflationary economies. More specifically, getting buy-in from upper management that there is only so much that can be negotiated and mitigated before some % is legitimately passed on.
3) Alignment with other parts of the organization. Finance and Purchasing seem to have similar fiscal interests, so I see the larger challenge with marketing and engineering.
What are the 3 biggest challenges faced by supply chainpurchasing professionals today Survey Result 19 - To learn more about this author, visit Jon Hansen's Website.
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