By Nikita Saharia Chaturvedi
The Global Supply Chain Resiliency Council may help leaders in procurement with an issue that has challenged them for a while: Measuring and recognizing corporate initiatives that manage risk.
Procurement leaders participating in a recent My Purchasing Center Executive Roundtable discussion agreed that their teams are spending time managing risk but that they don’t have the tools to measure and report their performance at preventing disruptions to the supply chain.
In a podcast interview, Bindiya Vakil, Founder and CEO of Resilinc, a cloud provider of supply chain resilience and risk management intelligence and analytics, says that the Global Supply Chain Resiliency Council’s award and recognition program, which is core to its being, may help fill that gap.
Vakil says that many companies have not developed metrics or incentives for managing risk. “We want to change that. Companies are focused on near-term metrics and need to look at their business strategically. Those who do the right thing and take the long-term view stand out.
“The Council has a strategic approach to measure and articulate what’s best in class and can help elevate the amazing work being done by these thought leaders,” she says. “We want more companies to become aware of the success they are having and invest in this important capability.”
The Global Supply Chain Resiliency Council brings together supply chain risk management and resiliency practitioners with luminaries and educators to advance the professional discipline through opportunities to collaborate, develop and share best practices, and be recognized for innovation and leadership. A key goal of the Council is to elevate the profile of supply chain resiliency business challenges and opportunities through the corporate strategic agenda.
The Council originated as a LinkedIn Group called SCRM Experts founded by Resilinc in 2010 with more than 500 members comprised of supply chain thought leaders, educators, industry executives and supply chain students.
“Our message to procurement and supply chain is two-fold,” Vakil tells My Purchasing Center. “Resiliency is a critical capability for an organization’s long-term success. If you need to build this awareness within your organization, you are not alone. You can join the Council and meet professionals and learn from them how they built a business case.”
The second key takeaway, she says, is that supply chain resiliency is no longer a nice-to-have. "Our supply chains are extremely complex and we are far too manual and reactive. Your competitors are using this capability for competitive advantage. Through the Council’s awards program they are being recognized globally. You can’t ignore it any longer.”
The Global Supply Chain Resiliency Council recently presented awards for supply chain resilience and risk management excellence at an annual event that took place recently in Santa Clara, Calif.
The awards program recognizes organizations and individuals serving as role models and leaders in driving supply chain resiliency strategy success within their company, supply chain network, and across industries. The awards committee considered nominations received from suppliers, customers and experts from the Council’s technical advisor, Resilinc. The five award categories and recipients announced are:
George E. Krauter
When one defines third-party MRO (3PMRO) success, one assumes that fundamental operations are being executed and that expectations are being met (i.e., ROI goals are surpassed} Read More
The US Labor Department reported in March of this year that there were 6.6 million job openings, a record high. Although most of us applaud these numbers Read More
Millennials working in the supply chain management field don’t fit the mold that the older generation assumes for them. APQC’s recent study Read More
Staples Advantage is the one supplier that offers all the business solutions you need, all with the expertise of a specialty vendor. Read More
It started in 1972 with an idea, a new concept in distribution. Today, Digi-Key Corporation is one of the fastest-growing electronic component distributors in the World. The stimulus for this growth is Digi-Key's customer-centered business philosophy… Read More
Procurement and supply management leaders have a seat at the table, and management’s expectations are high. But what do CEOs really want, and is purchasing delivering on these expectations? This webcast looks at how procurement and supply management … Read More
At world-class companies, purchasing’s influence touches just about every area of spending. But, how exactly do procurement teams get to the point where other departments approach them for help with sourcing such indirect categories as human resource… Read More