In today’s increasingly globalized world, supply chains are highly complex and interdependent and therefore vulnerable to risks, such as geopolitics and natural disasters. For instance, the current tumultuous times have disrupted businesses with suppliers in heavily affected areas and the ongoing threat of tariffs and sanctions have pressured firms to source suppliers elsewhere. Your procurement strategy and framework must be robust while being adaptable to changes and disruptions. Companies the world over are beginning to appreciate the difference that a potent procurement and sourcing strategy can make for their bottom line.
This is especially true due to the COVID-19 upheaval that is turning the global economy on its head. Simply put, the business world has faced massive disruption in the face of COVID-19, and supply chains across industries are suffering. This new reality often requires additional flexibility on the procurement and sourcing side as companies continue to re-orient their services with new risk management guidelines. Our team at TPG is ready to face this new normal, and our enhanced procurement and sourcing strategies reflect the changing industries.
At The Poirier Group (TPG), when assessing your procurement and sourcing strategies, we take a deeper look at an organization’s internal needs as well as those of the market, strengthening the relationship of the company and its suppliers. Our supply chain management team then assists in creating contacts globally to provide the most value to organizations in the procurement process. Finally, we rapidly assess the current maturity of product sourcing and tracing initiatives in your organization and recommend specific supply chain improvement-focused initiatives to both reach tracing and sourcing goals and enhance design and measurement. These are the specifics you must dive into in order to form an effective procurement and sourcing strategy.