Partnering with suppliers to spark innovation and efficiency
How does it affect you?
By looking across all aspects of the supplier relationship, procurement can position itself to drive sustainable results.
In an environment of low or limited growth, many utility executives face budgetary challenges without having a clear plan to resolve them.
As a result, they are increasingly turning to the procurement team to cover the gap.
Executives are asking procurement to develop collaborative supplier relationships that foster innovation and expense control. But procurement is left to wonder which suppliers could offer the most value and how to define and measure the value.
At the same time, procurement has to reassess its risk management programs. It has to address new regulatory requirements, assess recent catastrophic events that exposed weaknesses in supply chain organizations and create enhancements to manage risk in existing and emerging markets.
For nuclear operators contending with emerging post-Fukushima requirements, these supply chain challenges are acute. Procurement’s best opportunity in these circumstances is to segment the supply base.
By looking across all aspects of a supplier relationship, from onboarding to phaseout order, procurement can position itself to drive sustainable results.