Tesco
Procurement 20/20
Book

Procurement 20/20

Supply Entrepreneurship in a Changing World

Peter Spiller, Nicolas Reinecke, Drew Ungerman and Henrique Teixeira
Wiley, 2013

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Editorial Rating

8

Qualities

  • Applicable

Recommendation

Today’s chief procurement officers (CPOs) must deal with just-in-time supply chains, ever-evolving tariffs, new sourcing regulations, currency fluctuations, outsourcing, sudden commodities scarcities, synthetic insurance hedges, and much more. McKinsey procurement professionals Peter Spiller, Nicolas Reinecke, Drew Ungerman and Henrique Teixeira discuss the major challenges that CPOs and their organizations face, and detail the best practices to deal with them. In addition to their own experience, the authors base their recommendations on 2,000 interview hours with CPOs and top procurement executives, upward of 1,500 global procurement studies and the close examination of more than 700 procurement organizations. Despite the container loads of insider jargon, getAbstract recommends this exceptional best-practices procurement guide to CEOs, COOs and, of course, CPOs and to all the members of their departments.

Take-Aways

  • Procurement must move from a tactical to a strategic focus to become the primary “integrator” of the main business functions within a company.
  • Procurement serves as orchestra director and “convener of issues,” coordinating and optimizing all of a company’s external footprints so they work together efficiently.
  • Today’s remarkable volatility means that sourcing has become increasingly dynamic.

About the Authors

McKinsey & Company executives Peter Spiller, Nicolas Reinecke, Drew Ungerman and Henrique Teixeira are purchasing, supply management and sourcing experts.

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