The news last week that GM was planning to sign long-term contracts with several suppliers may have struck some as a ho-hum development. After all, long-term contracts are a normal strategy for companies in many industries. What’s the big deal here?
What does collaboration really mean to procurement? What stands in the way of collaboration? And what’s required for collaboration to truly advance strategic objectives? There has been some discussion of that recently that I think deserves attention.
It doesn’t take much for economists to get gloomy. Latest reports paint a concerning picture of American business. But, not to worry, procurement folk: there are other reports that present a brighter picture.
In the US, its time for March Madness: ups and downs, changing circumstances, and a constant need to adjust strategies and tactics. What you need to thrive at this time has parallels in business, especially in procurement.
In many major manufacturing companies, procurement executives have access to PLM systems and can use information in the systems as they devise sourcing strategies. If that sounds useful, called contract lifecycle management (CLM).
The old adage can equally apply to procurement’s relationships with key suppliers – especially in the era of the extended supply chain when unexpected supplier actions or practices can cause problems – ought to be common sense.
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