Summary of Leading Procurement Strategy

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Rating

8 Overall

8 Applicability

9 Innovation

8 Style


Recommendation

Procurement – once known merely as “purchasing” or “supply” – used to be a business backwater with no prestige. Today, procurement is increasingly important as a strategic differentiator. The way procurement executives plan, organize and manage your supply chain is the “only source of sustainable competitive advantage remaining today.” This collection of informed essays by supply-chain experts Carlos Mena, Remko van Hoek, Martin Christopher and others details the current best practices in this crucial area. getAbstract recommends this anthology as an indispensable minicourse on corporate procurement and its likely future direction.

In this summary, you will learn

  • What four transitional stages shape the procurement business,
  • How to benefit from the strategic procurement cycle and
  • What the future holds for procurement.
 

About the Authors

Carlos Mena directs the Center for Strategic Procurement and Supply Management at the Cranfield School of Management, where Remko van Hoek is a visiting professor. Martin Christopher previously headed Cranfield’s Demand Chain Management department.

 

Summary

From Tactical Operator to Strategic Contributor
Most firms spend about half of their sales revenue to buy needed products and services. When organizations spend wisely, they improve their performance and earnings. When they spend unwisely, profits suffer. Yet, many corporations don’t ...

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