A Next-generation Operating Model for source-to-pay By Samir Khushalani and Edward Woodcock in McKinsey
A next-generation procurement operating model that capitalizes on advances in digital, data, and analytics delivers new levels of performance across the value-creation lifecycle. ... "
Effective procurement has long been recognized as a source of a competitive advantage (Exhibit 1). But achieving excellence requires a concerted effort to align a variety of capabilities, insights, and activities in an integrated manner across the whole organization.
Achieving the level of performance and cross-functional integration required for procurement excellence has never been easy. And the big trends that are reshaping so many aspects of modern business are only adding to the complexity of the challenge. Today’s procurement function must navigate new markets and new sources of supply. It must balance the benefits of global sourcing and standardization against the risks associated with complex logistics, and the need to tailor products and supply chains to suit the requirements of local markets. It must develop the agility to manage price volatility, shortages, and supply interruptions. Increasingly, it must cope with political uncertainty and global trade tensions. ... "
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