For all the attention placed on the economies of China, India, Japan, Korea and their neighbours, I’d suggest that western business is still learning about the east. And perhaps there’s more to learn than gets recognised.
For all the attention placed on the economies of China, India, Japan, Korea and their neighbours, I’d suggest that western business is still learning about the east. And perhaps there’s more to learn than gets recognised.
Procurement is one of the best examples of where smart, commercially astute, entrepreneurial individuals are able to take on projects that upend expectations and do things in a completely different way. So while some businesses in the growing economies in Asia are looking to Western business for roadmaps and benchmarks, that paradigm does no favours to the lessons that come from the specific challenges of various markets in the Asia-Pacific region. These are not less relevant or instructive because the economies they operate in present different scenarios to their overseas counterparts.
Here’s three cases why the activities of the procurement community in Asia-Pacific deserve more attention:
Frontier sourcing and supplier management
Global businesses need strategies to find, engage and manage suppliers in Asia-Pacific. They present unique challenges; unfamiliar regulatory environments, compliance issues, lack of supply chain visibility, etc. But they are a vital component of global business and learning how to leverage their abilities and minimise risk is key to a global sourcing strategy.
Companies of the future
Global business has had to get comfortable with the growing presence of Asian companies in lists of the largest and most influential enterprises. It would be foolish to suggest that these dynamic businesses haven’t developed very successful procurement methods. How they do business will change the world of commerce and it behooves the smart executive to stay in touch with these shifts.
Commercial savvy is the same everywhere
Whether it’s building a team from scratch, overhauling outdated processes or adapting to huge shifts in the supply base, there’s no question that some of the most ground-breaking and urgent work that functions do happens outside of those elite teams controlling huge amounts of spend and resources. In the quest to be lean, influential and inventive, the geography of the business is merely the background on which teams have to operate, rather than a factor, which defines how effective they are.
Which brings me to this years Asia-Pacific Awards, which have been established to recognise the best procurement initiatives, individuals and companies in the Asia-Pacific region.
The Awards will:
- Celebrate excellence within the procurement sector and your organisation
- Showcase best practice amongst procurement individuals and teams
- Reward procurement innovation within the Asia Pacific region
The deadline for entries is fast approaching (23:00 GMT, Friday 3rd July) after which they will be judged by an esteemed panel of senior procurement leaders and innovators from companies such as Etihad Airways, Unilever and Hitachi. There is a choice of 6 categories to enter: Procurement Excellence Award, Procurement Leader Awards, Cross-Functional Collaboration Award, Procurement Team Award, Transformation Award, External Collaboration Award. It is free to enter the Awards.
For more information on the Awards and to enter, visit: http://ift.tt/1GwWM92
This article is a piece of independent writing by a member of Procurement Leaders’ content team.
from Procurement Leaders Blog http://ift.tt/1GwWM90
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The views expressed in this post and throughout the series are the autor's own and not intended to reflect the views the YQ Matrix platform, its users or any associated organisations.
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