Description: Companies worldwide are trying to create solutions for their consumers and hope to get rewarded by their business in return. An often-overlooked aspect in many companies is the value that they can generate by strategically managing the supply of goods. It goes beyond the unit price - innovation, sustainability, reliability of supply, and quality. Sourcing of those input materials or services is instrumental in making any business successful.Strategic Sourcing aims to deliver sustained competitive advantage by connecting external capabilities to the companies' business needs. It is achieved by defining strategic choices on what to do and what not to do, execute those choices via bids, negotiations, signing contracts, manage relationships with the suppliers and nurture them to become long-standing partners. Data analytics and technology would be instrumental in delivering all those objectives. Last but not least, all this needs to be done with impeccable controls and ethical behavior. Karan will walk through these concepts during this session and discuss how the science and art of Strategic Sourcing comes together and has helped me deliver the value for P&G year on year.
Speaker: Karan is a Senior Director Purchasing in P&G & Supply Chain professional who believes in the power of technology to transform supply chain and business. He worked in India, Singapore and USA and done roles across the supply chain from customer supply chain to transportation operations to planning to raw material buying to Recycling/Repurposing solutions to new business development. He led digital transformation projects, worked on creating supply chain analytics for insights and decision making. In his words, “I do believe that technology is a means to an end and through my work I have tried to solve tough problems with business acumen and leveraged technology to get there. Strategic Sourcing enables long term competitive advantage and I had the opportunity to learn and practice it in P&G for a big portion of my career”.