Advisory board function in purchasing
In turbulent times, characterized by supply shortages, climate change, rising prices, upcoming sustainability reporting requirements and a looming recession, these are only mentioned as excerpts of the current challenges for purchasing and supply chain departments, many responsible parties are faced with the question of how to manage all this in a promising way.
A very striking example for the use of advisory board functions is politics. Politicians cannot provide expertise on all areas of their area of responsibility down to the last detail, and they don’t have to. External experts are brought in to discuss various issues, identify gaps in thinking and weigh up options for action in order to achieve rapid but well thought-out success.
Relevance for purchasing
Why should only politicians or board members of large companies benefit from an advisory board function? Does that make sense? From my perspective, absolutely not.
Corporate procurement has evolved in recent years into a supply chain management, digitalization, compliance and sustainability function, even if the department is not necessarily called that. Ensuring security of supply in complex global supply chains, shaped by natural disasters and wars, is an enormous challenge for procurement. This is now complicated by the direct and indirect obligation to create transparency in the supply chain from a sustainability perspective. This task is also incumbent on the purchasing department as an interface to digital information procurement. And all this not only cost-efficiently, but also cost-effectively, in challenging economic times including a shortage of skilled workers. This is just one example of many.
Can you still see the forest for the trees and know the way out of the requirements jungle?
The solution: advisory board function for purchasing
Use the exchange with an external and independent purchasing professional to regularly discuss current topics in the pipeline and how the challenges can be mastered currently and in the future. Get immediate input and feedback, ask questions, discuss alternatives and trends, and develop an implementation roadmap.
In many fields, experts are consulted, why not yours?