Governance is extremely important as it determines the value that procurement is able to provide to the business, whether in terms of saving money, avoiding risks or achieving broader business objectives such as innovation or time-to-market improvements.
For all the attention placed on the economies of China, India, Japan, Korea and their neighbours, I’d suggest that western business is still learning about the east. And perhaps there’s more to learn than gets recognised.
Focusing on system improvements in procurement is a natural lever for technology and transformation, but unless the benefits are felt by both suppliers and internal stakeholders, the opportunity is only partially realised.
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