A goal for any procurement organization is to implement proper risk management of commodity inputs to generate a competitive advantage. Accurate commodity price projections are vital to sustaining margins and profitability. Understanding and quantifying exposure to commodity pricing, and strategizing to minimize risk, can be challenging. In this episode, John Moyer and Tom Gildersleeve discuss strategies for managing commodity risk with specific emphasis on chemicals.
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Value chains are bending so rapidly that procurement professionals are more important to business strategies than ever before. It's not only volatility in commodities but also dramatically new ways of working that are creating challenges. That's what 185 leading companies told us in this year's Assessment of Excellence in Procurement (AEP) study. But if there is one place we all know we can drive real money to the bottom line, and value to the top line, it's through procurement—and the AEP results show seven ways the leaders produce results. It's not just business as usual, it's business as unbelievable. There is another wave of new thinking on the way.
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Supply Management can create significant value for the corporation. However, leaders of the function often struggle to measure the total value generated and credibly communicate it to their executive peers. Return on Supply Management Assets, ROSMA©, is a breakthrough procurement performance indicator that measures the procurement organization's financial impact on the business as well as the productivity of the function. It provides a holistic platform to constructively address stakeholders and serves as a catalyst for procurement performance management improvements. More importantly, it is a central part of A.T. Kearney's innovative Procurement Performance Management (PPM) Solution that effectively addresses supply management performance drivers such as project pipeline management, project execution, benefits tracking, and resource management.
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A.T. Kearney Procurement & Analytic Solutions works with clients to assess their current enterprise-wide supply management capabilities, determine the critical gaps in relation to best practices and build a roadmap for improvement. We leverage current investments and capabilities to prioritize areas that will drive the biggest near term improvement results.
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Jane Wanklyn, a Director in A.T. Kearney Procurement & Analytic Solutions, has been selected by Consulting Magazine as a 2011 Women Leaders in Consulting, Future Leader Award recipient.
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Organizations acknowledge maintaining a competitive edge requires the infusion of analytics into their business strategies. Procurement and sourcing functions can leverage analytics to differentiate themselves from competitors and optimize key business processes.
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