|
|
|
|
|
|
| Tom Eisenman, Chief Executive Officer, and John Ray, Executive Vice President, Setech, Inc., a solution provider company at the upcoming marcus evans Chief Procurement Officer Summit 2012, on giving CPOs the information and tools they need to make strategic decisions. |
NEW YORK, N.Y., Oct 15, 2012 - (ACN Newswire) - Today's Chief Procurement Officer (CPO) is charged with providing strategic oversight, operational leadership, and an ever increasing role in creating shareholder value. This elevation in prominence comes at a time of unprecedented global pressure to improve asset utilization, mitigate supply chain risk and provide effective direction from data that is often difficult, if not impossible, to manage. Supporting these objectives has led many organizations to better understand the dramatic positive impact that an optimized indirect materials strategy can have on these important initiatives, say Tom Eisenman, Chief Executive Officer, and John Ray, Executive Vice President, Setech, Inc.
Best in class CPOs demonstrate visible leadership in this effort to align their procurement organizations with the enterprise, ensuring that their company is equipped with the best tools, processes and/or service providers to achieve desired outcomes. Additionally, they understand that most ERP systems may fall well short of enabling indirect spend optimization, and thus look for solutions that provide specific, proven approaches in delivering sustainable year over year value.
From a solution provider company at the upcoming marcus evans Chief Procurement Officer Summit 2012, in Weston, Florida, December 2-3, Eisenman and Ray discuss the tools and information that CPOs need for strategic decision-making.
- From your perspective, what is troubling CPOs today?
Tom Eisenman: CPOs are obligated to provide strategic direction and operational alignment for the indirect materials and services procured by their organizations. Certainly, one element of this effort is the analysis and management of this spend, traditionally looking for variances that occur primarily around price, availability, quality and risk. With their workforce reduced, they have to become more efficient in this review through improved systems and processes, but also be able to strategically look at the operational impact of their sourcing initiatives. That technical element, supporting positive gains in manufacturing and process effectiveness, is something we often see missing today. This is a direct result of systems that do not provide the information required to support those decisions.
- Can't they get that information from their ERP Systems?
John Ray: Their ERP systems do not allow them to extract, analyze and present information easily or in a timely manner. Also adding to this challenge is that these systems are not designed and deployed in such a way as to effectively manage indirect materials as they are typically focused on finance compliance and direct materials management. Often lacking is the ability to analyze data from multiple platforms and systems, all with different designs and operational impact, into a single point of truth as can be provided by the Setech process and system. For example, we often see tremendous variation of ERP solutions within the same enterprise. CPOs need to base their decisions on global, enterprise-wide activities, with the information and performance metrics at their fingertips in seconds. Most large enterprises would take weeks to create this kind of bridge and visibility, as ERP systems are not typically designed for this kind of analytics.
Tom Eisenman: The second piece is data integrity. Even companies that feel they have the systems capabilities struggle with the process execution necessary to provide sufficient data integrity for indirect materials. CPOs absolutely require greater visibility to enable a systematic focus on that piece of the business.
- Any final thoughts?
Tom Eisenman: Total cost is critical and must be aligned with the strategic needs of the enterprise. The total cost and life of components must be factored in, as they impact asset reliability and efficiency.
About the Chief Procurement Officer Summit 2012
This unique forum will take place at the Hyatt Regency Bonaventure, Weston, Florida, December 2-3, 2012. Offering much more than any conference, exhibition or trade show, this exclusive meeting will bring together esteemed industry thought leaders and solution providers to a highly focused and interactive networking event. For more information please send an email to info@marcusevanscy.com or visit the event website at www.cpo-summit.com/TomEisenmanandJohnRayInterview.
marcus evans group - finance/insurance sector portal - http://bit.ly/cQIpN5
The Finance Network - marcus evans Summits group delivers peer-to-peer information on strategic matters, professional trends and breakthrough innovations.
- LinkedIn: www.linkedin.com/groups?gid=3568428&trk=hb_side_g
- YouTube: www.youtube.com/MarcusEvansFinance
- Twitter: www.twitter.com/meSummitFinance
- SlideShare: www.slideshare.net/MarcusEvansFinance
Please note that the Summit is a closed business event and the number of participants strictly limited.
About Setech, Inc.
SETECH provides a flexible menu of solutions that includes systems, consulting and on-site business process outsourcing services for the management of indirect materials. These capabilities are delivered globally; drive total cost outcomes aligned with the enterprise; and provide the data acquisition, enhanced reporting and Key Performance Indicators required by best in class centralized procurement organizations. www.setech.com.
Contact:
Sarin Kouyoumdjian-Gurunlian
Press Manager, marcus evans, Summits Division
Tel: + 357 22 849 313
Email: press@marcusevanscy.com
Topic: Research / Industry Report
Source: marcus evans Summits
Sectors: Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
| marcus evans Summits |
| Jan 5, 2016 15:31 HKT/SGT |
|
How the Right Interior Design Can Lead to an Unforgettable Hotel Experience |
| Jan 5, 2016 14:53 HKT/SGT |
|
Why Hotels Need to Invest in Technology |
| Jan 5, 2016 14:15 HKT/SGT |
|
Why Defence Organisations Should Reconsider Their Talent Management Approach |
| Oct 23, 2015 03:00 HKT/SGT |
|
How to Distinguish the Right Emerging Markets to Invest in |
| Oct 22, 2015 21:20 HKT/SGT |
|
How to Design a Solid Privacy and Data Protection Programme |
| Oct 22, 2015 21:00 HKT/SGT |
|
The Wellness Model: A Business Strategy to Reduce Healthcare Costs |
| Oct 17, 2015 02:20 HKT/SGT |
|
The Changing Dynamics of the Oil Market |
| Oct 17, 2015 02:10 HKT/SGT |
|
How China's Slowdown Affects Global Investors |
| Oct 17, 2015 02:00 HKT/SGT |
|
How to Use Globalisation as a Marketing Tool |
| Sept 30, 2015 07:30 HKT/SGT |
|
The Need for Holistic Revenue Cycle Management Models |
| More news >> |
 |
|
|
|
