Procurement and supply management professionals recognize the need to produce
dramatic results in an increasingly complex business environment. This is especially true in these challenging economic times, and necessitates a truly STRATEGIC approach to what was traditionally a transactional procurement function. Truly progressive organizations worldwide have been able to transition from a transactional role to become a strategic sourcing instrument of the organization, which reduces costs, while increasing both efficiency and effectiveness.
Such a strategic transition must concurrently address the critical aspects of supplier management. Progressive organizations must therefore establish the strategic capabilities created by both strategic sourcing and active management of supplier risk to assure an optimized supply chain.