Procuremet

In: Business and Management

Submitted By alparane
Words 4766
Pages 20
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Report Information from ProQuest
January 09 2014 16:51 _______________________________________________________________

09 January 2014

ProQuest

Table of contents
1. How Procurement Excellence CREATES VALUE........................................................................................ 1 Bibliography...................................................................................................................................................... 11

09 January 2014

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Document 1 of 1

How Procurement Excellence CREATES VALUE
Author: Blascovich, John D; Markham, William J Publication info: Supply Chain Management Review 9.5 (Jul/Aug 2005): 44-52. ProQuest document link Abstract: A.T. Kearney's 2004 "Assessment of Excellence in Procurement" (AEP) study reveals that senior executives expect supply management to go well beyond its traditional role. Rather than focusing on price reductions, executives are challenging the organization to capture value from the supply market. This view represents a huge advance in their understanding of procurement's potential. Nearly all leaders and most followers recognize that the key to their business strategy is value creation. Yet leading organizations use their foundation of excellence to create more value and gain competitive advantage from supply markets by focusing on four key areas: innovation and growth, value chain optimization, risk management and supply continuity, and advanced cost management. Leaders are involving suppliers in a systematic lean-design approach that leverages the supply base and aggressively identifies waste. Companies that are truly serious about cost reduction exert pressure not only on suppliers but also on themselves, through…...

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