Adam Schabel: Strategic Supply Chain Platforms Aid Risk, Compliance Functions – CFO
Adam Schabel wrote an article that was featured in CFO.com titled “Strategic Supply Chain Platforms Aid Risk, Compliance Functions.”
The platforms enable changes that at once drive supply chain process improvement, maximize compliance, and mitigate risk.
Improving a company’s performance and its risk management position are vital in today’s competitive business environment. Savvy CFOs are continually on the lookout for new strategies and, quite often, technology tools.
As such, it’s fairly common for finance chiefs to receive requests for new strategic supply chain platforms (SSCPs) that serve to maximize compliance and minimize risk.
Some of these proposals are more attractive than others, but distinguishing the “hard” savings from the “soft” can often seem more daunting than launching the project itself.
However, if you are approached by an enthusiastic supply chain team that’s excited about process improvements and incremental savings, it may well be worth a closer look. Let’s take a look at the why and how.
Have you ever experienced a legal dispute with a supplier where victory or defeat hinged on the communication of revised purchase-order terms and conditions — those that were supposedly issued six years ago? Or, received a follow-up communication from a supplier that allegedly never committed to revised quality requirements?
Or, perhaps, have you experienced an internal process breakdown that led to a large purchase expenditure that was never fully authorized?
To take this a step further, imagine exacerbating any of the aforementioned situations by adding in the dynamic where your internal buyer exits the company without leaving behind critical documentation or email trails.