Things You Should Know
Global Purchasing – Industry Dynamics
I had the pleasure of speaking recently with experienced Automotive Purchasing Executive Kath Vigars regarding some of the changing dynamics with Global Purchasing – tariffs, Covid-19 and a global recession, all if which impact the global strategic sourcing decisions.
She shared, ”Purchasing leadership in all industries will be re-considering the level of global supplier partnerships to address current levels of risk, cost and working capital. A hybrid approach will be adopted to balance the knee jerk reaction to shifting to regional sourcing vs global sourcing.”
She added, “China will continue to be a driving force and growing economy but purchasing leaders will be really studying the Total landed cost business cases to include all the hard and soft costs and risks facing us today. We not want to lose focus on the need for early supplier involvement with engineering, and tapping into the critical supplier’s technology pipelines to help drive growth and innovation into the global spend. Multi-Billion dollar global sourcing strategies will be part of every CEO’s strategic plans going into 2021!”
As the purchasing world goes, the more things change, the more it stays the same!
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