Even if you have complete supply chain visibility, there might be a key ingredient missing from your operations: predictability. And here’s the thing—with visibility and predictability, your procurement and supply chain organizations can do more than avoid disasters—they can drive top-line growth.
I know, I know. You’re asking yourself. Top-line growth? Procurement and supply chain can support top-line growth? I understand the question. Too often, these groups are looked to for saving money, not earning it. But if these teams have access to predictive insights that will help them guide their actions, there’s a very real opportunity for them to not just avoid costs—but to actually help your company win market share.
Here’s an example. Let’s say your company produces tractors, and all of the sudden a major tire supplier starts showing up in the news for financial woes. Your procurement organization sees a potential bankruptcy coming, and make a quick decision: Buy up all the tires they can right now, and start to work on sourcing for alternative tire suppliers. Meanwhile, your main competitors don’t see it coming—so what do they do? Well…nothing, of course.
Fast-forward 3 months down the road. The tire supplier goes bankrupt, and guess what—your company has all the tires. Your competitors are left with massive plants full of completed tractors…that can’t actually move. And without tractors that move, they can’t fulfill their customer’s orders anymore. But guess who can?
That’s right. Thanks to your procurement and supply chain organization: You can.