No business is an island; each exists as part of a vast ecosystem of customers, competitors, and collaborators. At its core, businesses must generate economic value by identifying and addressing customer needs more efficiently and effectively than customers themselves. To thrive, they must address those needs better than their competitors. And to succeed in serving customers, outperforming competitors, and achieving growth and profitability goals, companies must ultimately rely on a critical group of collaborators: their suppliers and vendors.
In an era of rising customer expectations, intensifying competition, increasing globalization and rapidly changing business conditions, high-performance sourcing, procurement and supply chain management have become crucial to corporate success.