The business climate is evolving, and the procurement function has to evolve with it. That was the key message of Bill Michels, president at ADR North America, ADR-ISM China, and vice president of the Institute for Supply Management (ISM), at the recent Horizon 2014 purchasing conference.
Over time, the procurement function has gone from being transaction-driven through a variety of stages until today, when the real focus of the department is around being driven by the business strategies of the organization, said Michels, offering a fun evolutionary graphic (below) of the various stages of the past few decades.
Now, procurement has to consider how it is viewed within the organization, he said. Further, simply cutting costs no longer translates into ensurable success. Instead, he outlined 10 keys to procurement success. Click on the graphic below to start the slideshow.
— Hailey Lynne McKeefry, Editor in Chief, EBN