DAY 2: Future Planning: Charting a Course Forward
Wednesday, August 26th, 2020
“The most important single central fact about a free market is that no exchange takes place unless both parties benefit”- Milton Friedman
Procurement, while achieving its goal of cutting costs for the enterprise, can also inadvertently inflict losses on its strategic partners, the supplier base. Filling the role of partner and vendor, enterprises must understand the supplier perspective as well. Becoming a partner of choice provides tremendous benefits to the enterprise, ensuring your program’s stability. Cost cutting too deep and negatively affecting your supplier may force partners out of your program and ultimately cost you in the long run as staff augmentations are inappropriately converted to SOWs.