Executive Roundtable Highlights Key Concerns

IACCM - 01/01/2009

Executive Roundtable Highlights Key Concerns

IACCM recently worked with Corporate Member Blake Newport to organise a lunchtime roundtable meeting of senior executives in the UK. In the coming days, we will feature a range of the major areas of discussion. Highlights were:

The key pressures on suppliers and buyers in the downturn.

The importance of building and establishing greater working relationships with suppliers and not taking the draconian approach of cutting back their invoices.

How buyers should look to tap into the knowledge of suppliers both learn from suppliers, whilst also teaching best practice working processes.

The importance of protecting suppliers throughout the supply chain levels from economic turmoil. This means identifying the risks to suppliers and helping protect them, with the long term view of minimising disruption to the supply chain.

The need to create ‘living frameworks’ so that relationships are governed and allowed to evolve over time. This allows both parties to make the most of new technologies or processes and is positioned to be structured but flexible.

The changing demands on buyers and the varied skill set that is needed. Skills sets are changing from the traditional role of procurement, nowadays you have got to be a supply chain expert, business expert, commercial expert rather than just traditional skills. There is now a clear need to redefine the job role position.

How organisations are rearranging themselves to become more interconnected with the buyer function – procurement is now at the heart of making sure the business keeps moving forward.

The need for better knowledge and intelligence management systems for buyers. This gives buyers the ability to show senior management that what they are doing, clearly effects the organisation’s long terms plans – especially in areas such as cost avoidance or helping to mitigate risk.

The importance of monitoring supplier’s credit post contract to ensure that all is going smoothly. As many companies only perform initial checks and do not continue to monitor suppliers on a continual basis – this is a common cause for supply chain failure.

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